Part 2: Financial Services Section 30: Money laundering
Subsection (1) of this section requires the Secretary of State to ensure that appropriate attention is given to specified provisions in Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing when that Directive is transposed. Subsections (2) and (3) amend FSMA by inserting new section 333U which introduces an obligation for the FCA to issue guidance in relation to the definition of "politically exposed persons", and gives the Secretary of State power to make regulations both in relation to that guidance, and providing for the handling of complaints in relation to the way in which regulated entities have implemented provisions about politically exposed persons.