The end of the beginning

Timon Molloy, Editor

HM Government’s Review of the Money Laundering Regulations 2007 (MLR 2007) may be nearing a denouement, even as the international agenda points to further change. An epic that began with a call for evidence in 2009 [1] stretched on into consultation on revision proposals this summer [2]; HM Treasury has now collated and published the responses, in full (where permitted) [3] and, helpfully, in précis form [4]. The summary document stresses that it is “not an official response” to the consultation and the Government is not bound to follow any consensus view. HMG would not be popular with the regulated sector and beyond if it sought to impose a contrary option in law but AML professionals will need to wait until the first quarter of next year to learn of ministers’ settled intentions.