Changes to the MLRs will take effect from 10 January 2024, which meet the requirements of s77 FSMA 2023 and provide that the starting point for EDD assessments where a customer is a domestic PEP or is a family member or known close associate of such a PEP, should be that the customer presents a lower level of risk than a non-domestic PEP. As a result, the EDD measures applied should be less, unless there are other enhanced risk factors.
MLR changes address domestic PEPs
Scales of Justice ( Lady of Justice) of the Central Criminal Court fondly known as The Old Bailey in the city of London, England, UK