11 Jan 2017
Published in News

The European Union’s Fifth Anti-Money Laundering Directive – a summary of the changes

In June 2015, the European Union’s fourth anti-money laundering directive (“4MLD”) was enacted, with the requirement that all member states transpose the rules into national law within two years. The directive is the EU’s main instrument for preventing the misuse of its financial system by money launderers and supporters of terrorism.

29 Dec 2016
Published in News

Regulatory update: HM Treasury’s consultation on imposing monetary penalties for breaches of financial sanctions

On the 1st December 2016, the Office of Financial Sanctions Implementation (OFSI) launched its latest consultation on the imposition of monetary penalties for breaches of financial sanctions rules. OFSI (part of HM Treasury) is seeking views on its consultation paper, which sets out its proposed approach to financial sanction breaches.