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19 Dec 2003
According to reports the changes mean that 'business services in relation to the formation, operation or management of a company or a trust' will have to appoint money laundering advisers and make suspicious activity reports.
The Financial Times reports that the news emerged when a draft of the new regulations was leaked.
However, it remains unclear at this stage what interpretation can be reliably placed on the changes.
Accountants have long complained that they are bearing the burden of the new rules because of the obligation to make suspicious activity reports which could inundate the profession with work.
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Briefings
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AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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