Joint Money Laundering Steering Group consults on Part I guidance changes on professional deputies, group companies, intermediary agency and outsourcing

The Joint Money Laundering Steering Group has published proposed revisions to Part I of its Guidance, covering due diligence and controls in scenarios involving local authorities and professional deputies, group company relationships, intermediaries acting as agents of the customer, and outsourcing arrangements. The package includes a new paragraph 5.3.97A and an amendment to paragraph 5.3.99 on local authorities and professional deputies, new paragraphs 5.3.138A and 5.3.138B on group companies, a new paragraph and amendments to paragraphs 5.6.36 to 5.6.38 on intermediaries acting as customer agents, and amendments to paragraphs 2.16 to 2.21 with new paragraphs 2.22 to 2.24 on outsourcing. Marked-up text is available under the Consultations tab, and comments are due by 28 March 2025.