Lord Myners – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Lord Myners on 2016-05-03.

To ask Her Majesty’s Government whether they will investigate the compliance of professional advisers to Retail Acquisitions with know-your-customer and money-laundering regulations.

Baroness Neville-Rolfe

A regulatory framework is in place to deal with non-compliance with know-your-customer and money-laundering regulations. However, this is not the focus of the current investigation by the Insolvency Service into BHS.

If, during the course of the current Insolvency Service investigation into BHS, it appears that there is good reason to widen the scope of its enquires, the Insolvency Service has powers under the Companies Act 1985 to initiate confidential enquiries.