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<p>In response to the recommendation from the Treasury Select Committee following
its recent Inquiry into Economic Crime, HM Treasury will publish a detailed consideration
of the process for responding to a recommendation from the Office for Professional
Body Anti-Money Laundering Supervision (OPBAS) for the removal of a professional body’s
status as an anti-money laundering (AML) supervisor, including management of changes
in supervisory responsibilities, by September 2019. The next steps in strengthening
the UK’s approach to AML supervision will be set out more fully through an Economic
Crime Plan, which is due to be published in July 2019. <br> <br> This question has
also been passed on to the Financial Conduct Authority (FCA), within which OPBAS is
housed. The FCA will reply directly to Baroness Stern by letter. A copy of the letter
will be placed in the Library of the House.</p>
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