UK: The Office for Professional Body Anti-Money Laundering Supervision

The Oversight of Professional Body Anti-Money Laundering and Counter Terrorist Financing Supervision Regulations 2017 came into force yesterday. The Regulations give the Financial Conduct Authority a new role, in the form of the new Office for Professional Body Anti-Money Laundering Supervision: overseeing the anti-money laundering and counter terrorist financing supervision undertaken by 22 self-regulatory organisations. Further information can be found in the explanatory memorandum accompanying the Regulations: see here (pdf).