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Written question asked by Gregory Campbell (Democratic Unionist Party) on Thursday, 13 March 2025, in the House of Commons. It was due for an answer on Tuesday, 18 March 2025 (named day). It was answered by Emma Reynolds (Labour) on Tuesday, 18 March 2025 on behalf of the Treasury.


Politically Exposed Persons

Question

To ask the Chancellor of the Exchequer, when the Financial Conduct Authority will publish revised guidance on politically exposed persons under the Money Laundering and Terrorist Financing (Amendment) Regulations 2023.

Answer

The Government has been working closely with the FCA to follow up on the findings of its review into the treatment of Politically Exposed Persons by financial institutions, and to ensure firms improve their practices where necessary. The FCA expects that the revised guidance will be published and brought into effect in the first half of 2025.


Secondary information

Type
Written question
Reference
37984
Session
2024-26
Subjects
Politically exposed persons
Legislation
Money Laundering and Terrorist Financing (Amendment) Regulations 2023
Link
View this Written question on www.parliament.uk