PIMFA’s response to HM Treasury’s consultation on the Transposition of the Fifth Money Laundering Directive
PIMFA’s response to HM Treasury’s consultation on the Transposition of the Fifth Money Laundering Directive. Our responses include; The 5MLD definition of virtual currencies is not appropriate and needs to be amended in order to capture all three types of cryptoassets; In our view cryptoasset distribution mechanisms should be required to fulfil AML/CTF obligations just like any other business issuing or distributing financial instruments; and Discrepancies in standards across different sectors would not help a process, such as that of electronic identification, which for its very nature calls for harmonisation
You may also be interested in
Future of Advice
Evolving financial advice models, ensuring accessibility, affordability, and consumer protection in changing markets.
Hear from leading industry experts on the key issues facing compliance professionals in the investment management and financial advice world. Bringing together a high-level audience who can engage with the…
£275.00 – £590.00
Date & Time: 24th Sep 2026 (8:00) - 24th Sep 2026 (17:00)
CPD: TBC
Location: Herbert Smith Freehills Kramer
The Advice Group is a consultative group. Its role is to consider issues from an adviser and financial planning perspective...