From the Professional Accountancy team…...
Draft legislation has been introduced by UK Parliament related to improving the effectiveness of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. The draft regulations are the Money Laundering and Terrorist Financing (Amendment) Regulations 2026 (“draft Regulations”).
Click to read the draft Regulations
Click to read the draft explanatory memorandum .
The draft Regulations are subject to Parliamentary scrutiny and approval, so may be subject to change. They are expected to come into force later this year with the draft Regulations specifying various dates for the coming into force of various pieces of the legislation .The Institute will do a review of the draft Regulations in the coming weeks to provide more information to members on them .
This information is provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.
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