Member

26: After Clause 14, insert the following new Clause— “Anti-money laundering: provision of support to professional services firms(1) Within three months of the day on which this Act is passed, the Treasury must publish an assessment of the arrangements that will be made to provide education, guidance and compliance support to professional services firms subject to anti-money laundering supervision by the FCA.(2) The assessment must include a comparison between—(a) the education, guidance and compliance support currently provided by professional body supervisors, and(b) the support that will be provided by the FCA.(3) The Treasury must lay the assessment before Parliament.”Member’s explanatory statement This amendment seeks to require the Government to explain how education, guidance and bespoke compliance support currently provided by professional body supervisors will be maintained following the transfer of anti-money laundering supervisory functions to the FCA.