Quick take: UK cabinet reshuffle – who’s in and out in AML?
08 Jan 2018

British Prime Minister Theresa May announced a number of changes to her team on Monday.

Regarding financial crime policy and implications, including anti-money laundering (AML), sanctions risk, counter terrorism financing and Brexit, here are some of the main announcements:

The main shift is the appointment of a new Justice Secretary, David Gauke MP

South West Hertfordshire MP Gauke takes on this position from his role as Secretary of State for Work and Pensions, a position he held for six months, from June last year.

He takes over as Justice Secretary from David Lidington, who in turn took over from Elizabeth Truss in June 2017.

Prior to Truss, Michael Gove was Justice Secretary for a year (May 2015 to July 2016).

A lawyer by profession, Gauke was Shadow Minister (Treasury) between July 2007 – May 2010.

He then went on to serve as Exchequer Secretary for four years, before taking the positions of Financial Secretary and then later Chief Secretary to the Treasury.

The following have retained their positions:

Chancellor Philip Hammond

Home Secretary Amber Rudd

Foreign Secretary Boris Johnson

Brexit Secretary David Davis

International Trade Secretary Liam Fox

Business and Energy Secretary Greg Clark

Related articles:

UK appoints new Justice Secretary – experts flag up his AML past, for better or worse?

What do the results of the UK general election mean for compliance professionals?

Bankers, lawyers, accountants top UK money laundering risk assessment (again)

– By Irene Madongo

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