The Joint Money Laundering Steering Group has published proposed amendments to Part I of its Guidance to reflect The Money Laundering and Terrorist Financing (Amendment) Regulations 2026, which have been laid and are not yet in force. The update proposes targeted changes rather than a broader rewrite. The marked-up revisions cover paragraph 2.9 on clarification of "unusually", paragraph 5.2.4A on the bank insolvencies exception, paragraph 5.3.142 and Annex 5-V on PCAs, and paragraphs 5.3.94A and 5.3.99 on AoBo. Comments on the proposed revisions are requested by 29 June 2026.
Joint Money Laundering Steering Group2026-06-01
Joint Money Laundering Steering Group consults on Part I guidance revisions reflecting 2026 money laundering regulation amendments
The Joint Money Laundering Steering Group has proposed targeted amendments to Part I of its Guidance to align with The Money Laundering and Terrorist Financing (Amendment) Regulations 2026, which have been laid but are not yet in force. The revisions clarify the term “unusually,” update the bank insolvencies exception, and amend provisions on politically exposed correspondent accounts and agents of beneficial owners.