Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent discussions he has had with the Financial Conduct Authority on improving the effectiveness of money laundering regulations.

Officials and Ministers regularly meet the Financial Conduct Authority in its capacity as the supervisor of financial institutions for anti-money laundering and counter-terrorist financing purposes.

On 11 March 2024 HM Treasury launched a consultation on improving the effectiveness of the Money Laundering Regulations (https://www.gov.uk/government/consultations/improving-the-effectiveness-of-the-money-laundering-regulations).

HM Treasury officials will be engaging with key stakeholders, including among others the FCA, throughout the consultation process.