08 February 2007
In brief
HM Treasury has published draft Money Laundering Regulations 2007 for consultation. These repeal and replace the Money Laundering Regulations 2003 (SI 2003/3075), and implement the Third EU Money Laundering Directive. Interested parties have until 2 April 2007 to respond. The Law Society and the Society of Trusts and Estate Practitioners have recently expressed concerns about ambiguity of wording and potential over-regulation of trusts in relation to money laundering. More details at www.hm-treasury.gov.uk/consultations_and_legislation.
