UK JOINT MONEY LAUNDERING STEERING GROUP CONSULTS ON POOLED CLIENT ACCOUNTS GUIDANCE

On 22 May, an article from Shearman & Sterling reported that the JMLSG has launched a consultation on draft guidance on Pooled Client Accounts – being a bank account opened with a financial institution by a customer, to administer funds that belong to the customer’s clients.  The consultation closes on 10 June.

https://finreg.shearman.com/UK-Joint-Money-Laundering-Steering-Group-Consult

The consultation paper is at –

https://secureservercdn.net/160.153.138.163/a3a.8f7.myftpupload.com/wp-content/uploads/2020/05/Consultation-version_Part-I-Chapter-5-Annex-5-V_PCAs_Board-approved.pdf

 

 

If you’d like to help to contribute to the cost of the new laptop and desktop I have had to acquire, now that I am 5,000 miles away from my originals – https://www.buymeacoffee.com/KoIvM842y

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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