https://datamatters.sidley.com/wp-content/uploads/sites/2/2022/09/sidleyLogo-e1643922598198.png 0 0 John M. Casanova https://datamatters.sidley.com/wp-content/uploads/sites/2/2022/09/sidleyLogo-e1643922598198.png John M. Casanova2017-05-30 12:52:552022-10-18 17:50:32Money Laundering Regulations 2017: Preparing for the UK’s New Customer Due Diligence Regime
Money Laundering Regulations 2017: Preparing for the UK’s New Customer Due Diligence Regime
The UK is expected to introduce its updated customer due diligence regime with effect from June 26 or shortly thereafter. The changes are wide-ranging and will affect virtually all financial services firms doing business in the UK.
The Government has published a near-final draft of the new legislation. To the extent they’ve not already started, affected firms should be planning for the changes that will be required to their existing policies, procedures and systems.
In this post, we highlight the key issues for financial services firms, and propose a series of action points that they may wish to consider over the next month as they move to implement the new requirements.