UK: FCA CONSULTATION – PROFESSIONAL BODIES TO PAY £5,000 FOR NEW AML UNIT

KYC 360 reported on 23rd October that the FCA is to charge professional bodies a minimum of £5,000 per year to recover the costs of establishing and running its new Office for Professional Body Anti-Money Laundering Supervision (OPBAS).  The FCA has also launched a proposal seeking to charge a fee of £45.49 per supervised individual for 2018/19.

https://kyc360.com/news/uk-professional-bodies-to-pay-5000-for-anti-money-laundering-unit/

The consultation, which runs to 14th December, is available at –

https://www.fca.org.uk/publications/consultation-papers/cp18-32-recovering-costs-office-professional-body-anti-money-laundering-supervision-opbas-proposed

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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