JMLSG note – the implication of the end of the Brexit transition period on JMLSG guidance
On 14 January 2021, the Joint Money Laundering Steering Group (JMLSG) issued a note concerning the impact of the end of the Brexit transition period on its guidance.
The note explains that the JMLSG guidance is based on The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) (as amended) and that certain provisions in the MLRs were derived from EU law. The note states that there are still…