UK: THE IMPLICATIONS OF THE END OF THE BREXIT TRANSITION PERIOD ON THE JMLSG GUIDANCE

The Joint Money Laundering Steering Group (JMLSG), a private sector body that is made up of the leading UK Trade Associations in the financial services industry, has published guidance on the implications of the end of the Brexit transition period on the JMLSG Guidance.  It is intended to provide signposting to areas within the JMLSG Guidance that are impacted by the completion of the UK’s exit from the EU on 31 December.  The most obvious change is that the definition of a ‘third country’ has become a country other than the UK, as opposed to outside the EEA.  EEA entities are therefore third country entities for the purposes of AML.

https://jmlsg.org.uk/latest-news/the-implications-of-the-end-of-the-brexit-transition-period-on-the-jmlsg-guidance/

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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 View all posts by raytodd2017