I obviously don’t know my own strength. After my plea on Wednesday for new Regs, the UK Treasury has today published a summary of responses to its summer consultation on the UK’s AML/CFT regime, and in that summary we have this paragraph:
“The EC is currently reviewing the Directive and is planning to publish a report on this in February-March 2012. It will then work towards a proposal for a new Fourth Money Laundering Directive which responds to the review and the new FATF standards. This proposal should be ready for Autumn 2012. Negotiations on the new Directive will take place throughout 2012 and the EC aims for swift implementation in 2013. The UK will transpose the new Directive into national legislation. This will entail changes to the Money Laundering Regulations 2007 most likely in the course of 2013 or 2014.”
Thank you very much, Mr Osborne – I shall hunt out my countdown clock immediately. And while I’m at it, seeing as my influence is much greater than I had realised, I think the government should send a £10 biscuit voucher to every tax payer on their birthday. Well, it was worth a try.