FSA progresses on new money laundering guidelines

The regulator has published its proposed guidelines today following communications with interested parties, which should result in a consultation draft by the year end. ID – defusing the issue: a progress report notes that ID is a particular issue in the UK because of the lack of an official ID card issued by government. Legislation for such a card has been proposed, but the FSA says “it will be some years before any system is generally rolled out.” Today’s document outlines four key proposals: Increased reliance on a single ID document – on the basis that secondary documents,...