We've just been shortlisted in the Best Service Organisation supporting the Emerging Payments Industry category in the 2017 Emerging Payments Awards!
London is the second largest financial centre in the world and financial services is the largest industry in the UK, therefore it is logical to expect the financial services industry to be high on the negotiation table for BREXIT.
The reason is that some of the provisions in the current draft have the potential to be a headache to implement. I don't mean the reductions in Simplified Due Diligent thresholds, or the stronger due diligence needed for payments to the EU listed high risk countries (though these are fairly significant) instead I am talking about article 32.
Exclusive opportunity for ambitious graduates, hungry for a financial services career with an industry leading consultancy!
In six months’ time, the second Payment Services Directive (PSD2) will be implemented in the UK. And while we don’t yet have finalised implementing documents, progress is being made on what the realised directive will look like.
Is your firm prepared for 4MLD?
If not, you only have this weekend to get sorted and while we have had draft versions and a consultation JMLSG guidance in circulation for some time now, the new Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs 2017) are were finally laid before Parliament yesterday, and will come into force on Monday, meeting the 4MLD implementation deadline of 26 June.
The FCA do not want to regulate specific technologies.
Payment and e-money institutions must be ready to include additional information with wire transfers by the end of this month, with the new Wire Transfer Regulations (WTR2) (also known as the Fund Transfer Regulation, FTR) coming into effect on the 26 June.