Bill Wiggin – 2015 Parliamentary Question to the HM Treasury
The below Parliamentary question was asked by Bill Wiggin on 2015-11-02.
To ask Mr Chancellor of the Exchequer, what steps he is taking to reduce red tape affecting estate agents subject to the Money Laundering Regulations 2007.
Harriett Baldwin
The Government’s Anti-Money Laundering regime has a clear aim: to make the UK financial system a hostile environment for illicit finances, whilst minimising the burden on legitimate businesses and reducing the overall burden of regulation.
With this in mind, the Government has launched a review of the impact on business of the current anti-money laundering and terrorist finance regime as part of the Cutting Red Tape Review programme. The call for evidence from all parties closes on 6th November and the Review is specifically seeking evidence on the role of supervisors in that regime, so that regulatory activity can be made as efficient as possible. The Review will examine the potential to improve compliance and efficiency, by identifying aspects of the supervisory regime that appear to businesses in the regulated sector to be unclear or unnecessarily cumbersome.
