Brexit: What You Need to Know About Corporate Criminal Law

Lawyer Monthly

"The 4th Anti-money Laundering Directive: There’s been a significant number of developments in this space in recent months. We’ve posted articles about the 4th Anti-money Laundering Directive, and a series of related issues. UK legislation to implement the Directive via new Money Laundering Regulations should be in place before June 2017, if not before the end of the year. There is no reason to believe that this will be affected by a possible Brexit. However, if the UK leaves the EU, it will be able to vary its AML architecture from the EU model. We can’t immediately see why the UK would do this, especially if it’s still signed up to the Financial Action Task Force (FATF). The FATF Mutual Evaluation of the UK is due to take place in 2018, which could coincide with the UK actually leaving the EU. Any perceived deviation in UK AML standards due to Brexit could have a negative impact."

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Louise Delahunty Partner, London