- ‘Name and shame’ proposal: The new RIG reflects the FCA’s 11 March 2025 letter to the Treasury Select Committee
Key takeaways for regulatory investigations lawyers from the Regulatory Initiatives Grid
FCA updates its webpage on cash-based money laundering
On 2 April 2025, the Financial Conduct Authority (FCA) published an updated version of its webpage on cash-based money laundering.
The webpage provides information on the FCA’s work to reduce money laundering through cash deposits and its expectations of firms’ controls, including information on access to cash, financial crime controls, and mitigating
Updated HMT Money Laundering Advisory Notice: High Risk Third Countries
On 27 March 2025, HM Treasury issued an updated Money Laundering Advisory Notice.
The update reflects changes to the countries in scope of High Risk Third Countries, as defined in the Money Laundering Regulations 2017, following updates to the lists of the Financial Action Task Force at its plenary meeting in February 2025.
The Economic Crime and Corporate Transparency Act 2023 (Commencement No 4) Regulations 2025
On 13 March 2024, there was published on legislation.gov.uk, The Economic Crime and Corporate Transparency Act 2023 (Commencement No 4) Regulations 2025.
These Regulations are the fourth commencement regulations made under the Economic Crime and Corporate Transparency Act 2023 (the Act).
Regulation 2 commences certain provisions in Parts 1 and 2 of the
HMT publishes AML/CFT supervision report for 2023-24
On 13 March 2025, HM Treasury (HMT) published its annual report for 2023 to 2024 on anti-money laundering and counter-terrorist financing (AML/CFT) supervision.
The report sets out information about the activities of AML/CFT supervisors between 6 April 2023 and 5 April 2024. AML/CFT supervisors are appointed by HMT to monitor the
FATF consults on best practices in mitigating proliferation financing risks
On 26 February 2025, the Financial Action task Force (FATF) issued a public consultation seeking input on best practices in mitigating proliferation financing risks. The consultation is intended to help FATF produce a report that will improve country and private sector understanding of current proliferation financing risks. This will cover the evasion techniques
FATF updates standards and consults on guidance to better promote financial inclusion
On 25 February 2025, the Financial Action Task Force (FATF) updated Recommendation 1 and its Interpretive Note, with corresponding amendments to Interpretive Notes to Recommendations 10 and 15, as well as related Glossary definitions to better support financial inclusion. The updates follow the February 2025 FATF Plenary where it was noted that
FATF second consultation on revisions to R.16 and INR.16
On 24 February 2025, the Financial Action Task Force (FATF) issued its second public consultation on revisions to Recommendation 16 (R.16), its Interpretive Note (INR.16) and the related Glossary of specific terms, to adapt them to the changes in payment business models and messaging standards.
The objective of the
New Wolfsberg Group papers
- Wolfsberg Guidance on Payment Transparency – Roles and Responsibilities (dated 16 December 2024, published 21 February 2025). This document provides an overview of the roles played by key actors in a payment chain. It also sets out their respective responsibilities to adhere to payment transparency standards across
The Financial Services and Markets Act 2023 (Digital Securities Sandbox) (Amendment) Regulations 2025
On 30 January 2025, the Financial Services and Markets Act 2023 (Digital Securities Sandbox) (Amendment) Regulations 2025 were laid before Parliament and published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations amend the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 (the DSS Regulations), to modify the effect of