People with Significant Control (Amendment) Regulations 2017
The Government enacted the legislation necessary to implement changes required by the Fourth Money Laundering Directive to the UK regime for the disclosure of people with significant control (PSCs). Two sets of amending regulations were made at the last minute, both of which came into force on 26 June 2017.
- the Information about People with Significant Control (Amendment) Regulations 2017 (SI 2017/693); and
- the Scottish Partnerships (Register of People with Significant Control) Regulations 2017 (SI 2017/694).
Both sets of regulations were laid before Parliament on 23 June, just three days before they came into force. Continue reading “People with Significant Control (Amendment) Regulations 2017”
Changes to PSC registers Transitional Arrangements
Under the transitional arrangements set out in the Schedule to the 2017 Regulations, the obligation in s. 790VA to notify changes to Companies House applies to a change to a company’s PSC register made before, on or after 26 June 2016 unless the company has already notified the change in a confirmation statement. Any change to the PSC register made before 26 June 2017 that is notifiable under this rule, must be notified to Companies House before the end of the period of 14 days beginning with 26 June 2017. Continue reading “Changes to PSC registers Transitional Arrangements”
Policies and Procedures Templates for the Money Laundering Regulations 2017
For existing BTC account holders your order can be charged to your account, to find out more or discuss your requirements contact us by calling 01706 215803 or emailing firstname.lastname@example.org non-account holders can order through our online shop.
A complete set of templates which aids in the requirements in the Regulations for risk sensitive policies, controls and procedures which are able to demonstrate to a supervisor your firm’s specific policies, controls & procedures for AML. It includes:
• Templates covering The firms’ Policy Statement,
• Templates for the ‘Risk Register’ that is Risk Assessment & Risk Management controls and Procedures
• Templates for Policy and management procedures for reporting both internally and to SOCA
• A further ‘Tool Kit’ section packed with working papers and other relevant items to help you prepare your firms specific policies, controls and procedures.
The documents are delivered electronically allowing for simple editing in word along with explanations and instructions of what is expected of you for each section.
For more details visit our money laundering compliance website
SmartSearch is Ready for the 2017 Anti-Money Laundering regulations
Access to the SmartSearch Platform through Business Tax Centre is on a ‘pay as you have used basis’ with no formal contractual amount payable, pay for your usage only.
The unique SmartSearch Anti Money Laundering verification platform is enabling regulated businesses to comply with the latest 2017 Anti Money Laundering (AML) Regulations and fulfil their AML, Customer Due Diligence (CDD) and Know Your Customer (KYC) compliance obligations. With no requirement for clients to provide identity documents, the SmartSearch is much more convenient and cost effective for both your firm and your clients.
Full details of our searches can be found on our money laundering compliance website
The unique platform brings together both Individual and Business searches for the UK and International Markets with automatic Worldwide Sanction & PEP screening.” It will give you complete functionality to process any type of AML search all from a single and easy to use platform.
The Real-time hosting of all your businesses search activity and AML outcomes enables you to recall on-demand any AML outcomes to support an internal audit or an external visit from your supervisory body or regulator.