Money Laundering: Scotland — Written Question

Question

Andrew Bowie

Conservative — West Aberdeenshire and Kincardine

To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential impact of the transfer of anti-money laundering supervisory responsibilities from the Law Society of Scotland to the Financial Conduct Authority on the regulatory

Answer

Rachel Blake

Reform of the UK’s anti-money laundering and counter-terrorist financing (AML/CTF) supervision regime will improve the effectiveness and consistency of supervision that regulated firms receive. It will not change the underlying obligations firms must meet...

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