Updated 2020 JMLSG guidance takes account of amended Money Laundering Regulations 2017
03/06/2020
On 1 June 2020, the Joint Money Laundering Steering Group (JMLSG) published the final amended versions of its 3 part anti-money laundering (AML) and counter-terrorist financing (CTF) guidance.
Part I, = https://bit.ly/302dmT9
Part II = https://bit.ly/2XrmgYq
Part III = https://bit.ly/36XQB3X
These versions of the guidance take account of the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (SI 2019/1511), which came into force on 10 January 2020
The new chapter 22 for Part II, containing sectoral guidance relating to cryptoasset exchanges and custodian wallet providers, has not yet been finalised
The JMLSG advises that the amended versions of the guidance have been submitted to HM Treasury for approval.
In its press release, the JMLSG explains the Board-approved revisions take account of comments received to its February 2020 consultation - https://jmlsg.org.uk/latest-news/jmlsg-publishes-revised-guidance/ - although, there is now a summary of the comments received, nor what amendments were made as a result of the comments.
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.