Member

Finally, on stakeholder engagement with banks, His Majesty’s Government regularly meet and engage with firms and businesses through targeted engagement, such as sector-specific round tables and public consultations, which precedes any legislative change. This is an important aspect of any change to regulations. I know there has been a lot of work done on that as far as this SI is concerned, and we need to continue along that line. We will continue to keep key aspects of the money-laundering regulations under review to ensure that they remain reflective of current economic crime risks.