BWB has responded to HM Treasury’s consultation on the transposition of the fourth money laundering directive into UK law. The consultation proposed changes to the existing rules on people with significant control, which currently affect companies. The proposal is that the regime should be expanded to encompass other legal forms, including charitable incorporated organisations and Royal Charter bodies. BWB has pointed out that the Directive is primarily aimed at commercial entities, and the proposals could have pose a significant administrative burden for not-for profit organisations.
Please click here to read the full response.
Posted on 14/11/2016 in Legal UpdatesBack to Knowledge