ISLE OF MAN: CONSULTATION ON THE DRAFT ANTI-MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM (AMENDMENT) CODE 2018

On 5th September the Financial Services Authority published a news release saying that the Department of Home Affairs has today issued a draft Anti-Money Laundering and Countering the Financing of Terrorism (Amendment) Code 2018 for consultation.  This will give effect to recommendations made in the Mutual Evaluation Report issued by MONEYVAL following its Fifth Round Mutual Evaluation.  The FSA has sent details of this consultation to all regulated persons, designated businesses and representative industry bodies recognising that some firms may wish to submit comments through their representative industry body.

The draft Code is available at –

https://www.iomfsa.im/media/2490/anti-money-laundering-and-countering-the-financing-of-terrorism-amendment-code-2018.pdf

https://www.iomfsa.im/fsa-news/2018/sep/consultation-on-the-draft-anti-money-laundering-and-countering-the-financing-of-terrorism-amendment-code-2018/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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