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5MLD – the line-by-line analysis

Online Published Date : 06 March 2020 | Appeared in issue: Vol 32 No 6 - 18 February 2020

The European Union’s Fifth Money Laundering Directive – which in part responded to terrorist attacks in Paris and Brussels as well as the Panama Papers leaks – took effect on 10 January 2020 for the strengthened Customer Due Diligence provisions. The Government is now finalising technical legislation to implement the Trust Registration Service aspects. Adam Samuel dissects how 5MLD upgrades the Fourth Directive.

Who are you? Cutting-edge KYC

Online Published Date : 06 March 2020 | Appeared in issue: Vol 32 No 6 - 18 February 2020

Many firms continue to experience unnecessary expense and errors, when the data and technology is available for faster, more accurate as well as lower-cost customer authentication and risk insight. Steve Elliot reports on how rich data sets can transform Know Your Customer processes in financial services.

SEAR proposal puts heat on banks’ treatment of loyal customers

Online Published Date : 06 March 2020 | Appeared in issue: Vol 32 No 6 - 18 February 2020

Financial services firms in the United Kingdom were first alerted that their savings customers were potentially being treated unfairly in October 2013. Yet, six years later, the regulator has found it necessary to intervene with a Single Easy Access Rate. What does this long-tolerated behaviour say about firms’ purported focus on customers’ interests? asks Denis O’Connor.

State of the markets

Online Published Date : 06 March 2020 | Appeared in issue: Vol 32 No 6 - 18 February 2020

Financial markets in the United Kingdom are becoming cleaner, believes the regulator, as it boosts enforcement activity and conducts more sophisticated analysis of expanding data sets. However, defeating market abuse is an unending game of ‘cat and mouse’. David Rundle and Anna Gaudoin analyse a speech by Mark Steward.