Classification: Banking & Finance; 

Book Description

Since the publication of the first edition in June 2004, the law and regulation of money laundering in the UK have seen a number of significant developments. In consequence, A Practitioner’s Guide to UK Money Laundering Law and Regulation has undergone substantial revision. In particular, this second edition covers:

• The implementation of the Third Money Laundering Directive

• The Money Laundering Regulations 2007

• The new JMLSG Guidelines

• Creation of the Serious Organised Crime Agency (SOCA) and its responsibility for the Suspicious Activity Reporting (SARs) regime

• Replacement of the FSA Handbook’s Money Laundering Sourcebook with the high-level principles in SYSC as part of the move to more principles-based regulation

• The expansion of HMRC’s role in relation to money laundering

A Practitioner’s Guide to UK Money Laundering Law and Regulation will provide financial professionals with a thorough commentary and interpretation of the current anti-money laundering regime as well as offering readers a valuable guide to aid ongoing compliance and risk management.

Contents

Foreword

Philip Robinson, Director, Financial Crime, FSA

Chapter 1

The UK statutory framework Ben Kingsley, Slaughter and May

Chapter 2

Civil liability for money laundering Tolek Petch, Slaughter and May

Chapter 3

International considerations Mark Kalderon, Freshfields Bruckhaus Derringer LLP

Chapter 4

Money laundering regulations Louise Delahunty, Oliver Pikett and Joanna Stott, Simmons & Simmons

Chapter 5

Joint Money Laundering Steering Group Louise Delahunty and Cherie Spinks, Simmons & Simmons

Chapter 6

FSA Regulation of the UK money laundering regime Ruth Fox, Slaughter and May

Chapter 7

The role of the FSA James London and Jody Ketteringham, FSA

Chapter 8

SOCA and the Suspicious Activity Reporting regime Matthew Bristow, SOCA

Chapter 9

Practical systems and controls Daren Piper and Debbie Ward, Ernst & Young LLP

Chapter 10

The application of the AML legislation – international transactions – some continuing areas of uncertainty Richard Jones QC, No5 Chambers and Paul Marshall, 4-5 Gray’s Inn Square

Chapter 11

Extra-territorial effects of US anti-money laundering law Denis McInerney, James Kerr and Michael Russano, Davis Polk & Wardwell

Chapter 12

The European Perspective