Lord Tebbit – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Tebbit on 2016-01-13.

To ask Her Majesty’s Government what progress has been made towards agreement within the EU on updating the fourth Anti-Money Laundering Directive.

Lord O’Neill of Gatley

The Fourth Anti-Money Laundering Directive (‘the Directive’) has been agreed and was formally adopted in June 2015. Member States now have until June 2017 to transpose its requirements into national law. The Government plans to publish a consultation on transposition of the Directive by early Spring which will run for a full 12 weeks. We will consult on areas where the Directive gives us options or discretion on how we transpose its provisions as well as areas where we can improve the UK’s anti-money laundering and counter-financing of terrorism regime.

We will continue to consider any further changes to this regime in response to emerging threats.