HM Treasury

Financial services

Review of the Money Laundering Regulations

In 2009/10 the Treasury conducted a thorough review of the Money Laundering Regulations 2007.

The regulations implement  the 3rd EU Money Laundering Directive and the Treasury committed to reviewing the implementation of the regulations two years following their implementation.

The review focused on whether the regulations were effective and proportionate in practice, identifying where they are working well and where there may be room for improvement.

Call for evidence

The process began with the publication of a Call for Evidence and extensive engagement with businesses throughout the UK across all sectors as well as with supervisors, law enforcement, consumer groups, private individuals, NGOs and across government.

The responses to the Call for Evidence and a summary of these responses were published on the Treasury website in April 2010 and are available below.

Government response to the review and consultation

The Government response to the review and the proposals for consultation it contains have been developed on the basis of the evidence received during the Call for Evidence and also by further engagement with ministers, businesses and others as part of the better regulation process introduced by the Government in 2010.  

On 7 June 2011, the Treasury published the Government response to the review and an impact assessment on the costs and benefits of the proposals for consultation it contained.  The consultation ran from 7 June to 30 August. Views were sought on:

In particular, information was sought on the potential costs and benefits of the proposals made in order to develop these proposals and ensure they contribute to a more effective and proportionate implementation of the regulations in practice.

Consultation responses

The Government received seventy two responses from a wide range of stakeholders including Supervisors, law enforcement bodies, professional bodies, regulated businesses, private individuals and non-governmental organisations. The Government only publishes the responses as authorised by respective authors and/or issuing institutions.

The summary of responses below sets out the timeframe for the publication of the Government’s response to the consultation.

Individual responses

You can contact the review team by email at mlr.review@hmtreasury.gsi.gov.uk or by post at the following address

Review of the Money Laundering Regulations
Room 3/15
HM Treasury
1 Horse Guards Road
London
SW1A 2HQ

Please note that the documents on this page are available in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website.

For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.

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