The following Financial Services practice note provides comprehensive and up to date legal information covering:
This Practice Note introduces the Financial Action Task Force (FATF) and its work in relation to setting standards and promoting adoption and use of legal, regulatory and operational measures for combating money laundering, terrorist financing and similar threats to the international financial system’s integrity. This Practice Note would be of interest to those developing an interest in anti-money laundering and counter terrorist financing measures and those working on implementing a framework to address financial crime within a financial services firm.
The FATF was set up in 1989 as an inter-governmental body with the aim of setting standards and encouraging the implementation of measures to tackle money laundering, the financing of terrorism, and activity which challenges the integrity of the global financial system.
Through setting standards and working at a supra-national level, it aims to set the direction of national standards and legislative activity and as such it acts as a global policy-making body. Through developing recommendations in key areas, the intention is to create a coordinated, global approach to threats to the financial system while at the same time ensuring some degree of competitive equality.
In addition to standard setting, FATF monitors how members progress implementation of necessary measures, using common methodologies and processes and close working with the International Monetary Fund (IMF) and World Bank.
In line with many elements of financial services, it is recognised
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible fixed assets. Note, however, that certain intangible fixed assets are excluded from the regime, see Practice Note: Excluded intangible fixed
An intention to create legal relations is requiredThere are various situations in which a court will hold that an agreement is not binding because, though supported by consideration, it was made without any intention of creating legal relations (see, eg, Blue v Ashley).Did the parties intend to
This Precedent letter covers disclosure obligations under CPR 31. It does not apply to proceedings subject to the disclosure pilot scheme under CPR PD 51U. For guidance on the disclosure pilot scheme, see Practice Note: Business and Property Courts—the disclosure pilot scheme. For a client letter on
Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.