25 September 2020
On 15 July 2020, the government published the regulations implementing the expanded trust registration requirement under the EU Fifth Anti-Money Laundering Directive (AMLD5). The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 (the 2020 Regulations) are a significant departure from the draft regulations published as part of the technical consultation on implementation and will be well received by those operating in the UK wholesale financial and capital markets. A key feature of the 2020 Regulations is a new suite of exemptions, many of which are aimed at financial and capital markets transactions.
In this briefing note, we consider the 2020 Regulations and what they mean for these transactions. This briefing note forms part of a series on the expanded trust registration requirement under AMLD5.