In todays news...

[mangocrazy]

One of the main drivers (if not the main driver) of a certain section of UK investors/hedge fund managers to exit the EU before June 2017 was the 4th EU Money Laundering Directive (MLD), subsequently followed by the 5th and 6th MLDs. These are some of the main targets of the 4th MLD:

1. Emphasis on ultimate beneficial ownership and enhanced customer due diligence
Point 1 is almost certainly the point that had a lot of UK investors/fund managers running scared.

The UK has brought in the 4th and 5th MLD. It is probably ahead of most EU countries in enforcing the requirements of the 6th MLD.
In what tangible ways is the UK behind the EU on ML and UBO?
I could raise it with our lawyers I'm meeting next week to go through compliance processes.

The Uk has not implemented the 6th MLD and is not intending to do so. I'd wrongly assumed this stance also applied to the 4th and 5th MLD.

[Horse]

At least they are reasonable and not ex-stream.

Keep them coming, don't want your thoughts to run dry, or worse still, you to have a drought of ideas. In this weather, keep hydrated so you can sprinkle ideas on us.

I will, there's a pool of them.

Don't dam them up!

[Kneerly Down]

The Uk has not implemented the 6th MLD and is not intending to do so. I'd wrongly assumed this stance also applied to the 4th and 5th MLD.

Which would mean something if we diverged materially from its provisions.
From my understanding we don't. Of course, if you can show me where we do I'd be delighted!

[Ant]

Keep them coming, don't want your thoughts to run dry, or worse still, you to have a drought of ideas. In this weather, keep hydrated so you can sprinkle ideas on us.

I will, there's a pool of them.

Don't dam them up!

No, they'll drip through....

[Horse]

No, they'll drip through....

In which case, you will bathe in your glory.

NB

But if you do have ideas, will you post them all in one gushing fountain, or drip feed them to us?

Bzzz "Repetition"

[Ant]

No, they'll drip through....

In which case, you will bathe in your glory.

NB

But if you do have ideas, will you post them all in one gushing fountain, or drip feed them to us?

Bzzz "Repetition"

I should try to be more buoyant in that case.

[Horse]

No, they'll drip through....

In which case, you will bathe in your glory.

NB

But if you do have ideas, will you post them all in one gushing fountain, or drip feed them to us?

Bzzz "Repetition"

I should try to be more buoyant in that case.

I sea what you mean

[Ant]

In which case, you will bathe in your glory.

NB


Bzzz "Repetition"

I should try to be more buoyant in that case.

I sea what you mean

Good, in that case we'll sail through the next parts.

[Horse]

I should try to be more buoyant in that case.

I sea what you mean

Good, in that case we'll sail through the next parts.

Shore thing

I have to go out now (by car, not on the tide), so I'll give you a wave goodbye.

[Ant]

I sea what you mean

Good, in that case we'll sail through the next parts.

Shore thing

I have to go out now (by car, not on the tide), so I'll give you a wave goodbye.

Cheerio, I'd best be off too, we have a BBQ to go to. I'm sure there'll be some-fin nice there.

[Horse]

Not gone yet.

Pleased to see you're not all washed up or wrung out. You certainly dived right in.

[mangocrazy]

The Uk has not implemented the 6th MLD and is not intending to do so. I'd wrongly assumed this stance also applied to the 4th and 5th MLD.

Which would mean something if we diverged materially from its provisions.
From my understanding we don't. Of course, if you can show me where we do I'd be delighted!

I can't, and you know I can't, as the UK govt have simply stated that they believe they are already compliant. So if they're already compliant, why not implement the 6th MLD?

[Ant]

The Uk has not implemented the 6th MLD and is not intending to do so. I'd wrongly assumed this stance also applied to the 4th and 5th MLD.

Which would mean something if we diverged materially from its provisions.
From my understanding we don't. Of course, if you can show me where we do I'd be delighted!

He never can. Every time he's asked a question based on his slogan talk, it's Frank Spencer time.

[Ant]

Not gone yet.

Pleased to see you're not all washed up or wrung out. You certainly dived right in.

I know, very nautical of me, but still....

[Horse]

So if they're already compliant, why not implement the 6th MLD?

Oh come on! Even I know the answer to that one: if it's EU regs or leg, the UK must be, and be seen to be, taking back control and, ideally, introducing less restrictive rules. Or summat.

[Horse]

Not gone yet.

Pleased to see you're not all washed up or wrung out. You certainly dived right in.

I know, very nautical of me, but still....

Enjoy the somefin nice at the BBQ. I hope there's music too, a nice tuna or two.

[mangocrazy]

So if they're already compliant, why not implement the 6th MLD?

Oh come on! Even I know the answer to that one: if it's EU regs or leg, the UK must be, and be seen to be, taking back control and, ideally, introducing less restrictive rules. Or summat.

Exactly.

[Ant]

Not gone yet.

Pleased to see you're not all washed up or wrung out. You certainly dived right in.

I know, very nautical of me, but still....

Enjoy the somefin nice at the BBQ. I hope there's music too, a nice tuna or two.

I'm hoping the music has some real Sole.

[Yorick]

Interesting indeed.

Choose between a meglomanic Putin or a power mad General with a private army.

Who's funding this private army?

[Kneerly Down]

Who's funding this private army?

It's reckoned some of the African mining operations they oversee are throwing off c.£1bn a year.