Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed question first answered answering member label
tabling member	label

Search

1135506

registered interest
date	28/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Money Laundering: EU Action
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of UK compliance with (a) current and (b) future EU anti-money laundering policies after the UK leaves the EU.
tabling member constituency	North East Fife
tabling member printed	Stephen Gethins
uin	270754
answer	answer is ministerial correction date of answer 08/07/2019 answer text <p>The UK is a founding member and strong support of the Financial Action Taskforce (FATF), which sets global anti-money laundering and counter-terrorist financing (AML/CTF) standards. These standards are generally incorporated into UK law through the transposition of EU directives.</p><p> </p><p>The Fourth EU Anti-Money Laundering Directive was transposed into UK law by the Money Laundering Regulations 2017. This directive updated EU anti-money laundering policy to reflect the 2012 update to the FATF standards.</p><p> </p><p>The Fifth EU Anti-Money Laundering Directive (5MLD) was finalised in 2018 to further strengthen transparency and counter-terrorist legislation. The UK played a significant role in the negotiation of 5MLD and shares the objectives which it seeks to achieve on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. HM Treasury is currently running a consultation process inviting views and evidence on the steps the government proposes to take to meet the UK’s expected obligation to implement 5MLD by January 2020, and expects to publish an impact assessment in due course.</p><p> </p><p>The Sanctions and Anti-Money Laundering Act gives the UK the powers to update its future anti-money laundering regime post EU-exit. As a leading member of the FATF, the UK will continue updating anti-money laundering policies according to international standards, ensuring the UK’s AML/CTF regime is kept up to date, effective and proportionate.</p><p> </p><p>The Political Declaration that has been agreed with the EU contains a statement of mutual intent that the future relationship should cover money laundering and terrorist-financing.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 08/07/2019 12:10:45 answering member 4051 label Biography information for John Glen
tabling member	4434 label Biography information for Stephen Gethins

967544

registered interest
date	04/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Money Laundering: EU Action
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of whether the UK will continue to adopt new EU legislation on anti-money laundering in the event of a no-deal Brexit.
tabling member printed	Lord Taylor of Warwick
uin	HL10027
answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>The Sanctions and Anti-Money Laundering Act 2018 provides the Government with the powers to amend and update anti-money laundering and counter-terrorist financing (AML/CTF) regulations post -Brexit. The Government will use these powers to continue implementing the international AML/CTF standards set by the Financial Action Task Force (FATF), and to continue strengthening the UK’s AML/CTF regime.</p> answering member printed Lord Bates question first answered 14/09/2018 11:48:10 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

444447

registered interest
date	13/01/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Money Laundering: EU Action
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what progress has been made towards agreement within the EU on updating the fourth Anti-Money Laundering Directive.
tabling member printed	Lord Tebbit
uin	HL4998
answer	answer is ministerial correction date of answer 27/01/2016 answer text <p>The Fourth Anti-Money Laundering Directive (‘the Directive’) has been agreed and was formally adopted in June 2015. Member States now have until June 2017 to transpose its requirements into national law. The Government plans to publish a consultation on transposition of the Directive by early Spring which will run for a full 12 weeks. We will consult on areas where the Directive gives us options or discretion on how we transpose its provisions as well as areas where we can improve the UK’s anti-money laundering and counter-financing of terrorism regime.</p><br /><p>We will continue to consider any further changes to this regime in response to emerging threats.</p><p><br></p> answering member printed Lord O'Neill of Gatley question first answered 27/01/2016 16:22:39 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	952 label Biography information for Lord Tebbit

170228

registered interest
date	15/12/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Money Laundering: EU Action
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of the progress of current negotiations on the proposed 4th European Union Directive on money laundering as regards risk assessment and consequent enhanced due diligence for United Kingdom Politically Exposed Persons.
tabling member printed	Lord Clement-Jones
uin	HL3724
answer	answer is ministerial correction date of answer 22/12/2014 answer text <p><strong>The Government has advocated a risk-based approach to “politically exposed persons” domestically, through negotiations on the Directive.</strong></p><p> </p><p><strong>In the UK, this would require treating UK PEPs, such as UK Parliamentarians, on the basis of risk when undertaking customer due diligence. Enhanced due diligence would only apply if the business relationship is assessed as high risk.</strong></p><p> </p><p><strong>Political agreement between the Presidency, the European Parliament and the Commission on the Directive was reached on 16 December. We expect the Italian Presidency to provide further details shortly. </strong></p><p> </p><p> </p> answering member printed Lord Deighton question first answered 22/12/2014 14:45:24 answering member 4262 label Biography information for Lord Deighton
tabling member	3396 label Biography information for Lord Clement-Jones