On 18 June 2019, the Law Commission published its report on reform of the UK’s anti-money laundering (“AML”) and terrorist financing (”CTF”) regime. The focus of the report is the submission of suspicious activity reports (“SARs”). Despite suggestions over recent years that root and branch reform may be appropriate, it has recommended that the current SARs regime remain in place with some relatively minor refinements aimed at alleviating the practical difficulties faced by institutions.

https://www.ropesgray.com/en/newsroom/alerts/2019/07/Anti-money-laundering-Law-Commission-proposes-reforms-to-the-SARs-regime?utm_source=alert&utm_medium=email&utm_campaign=Anti-money-laundering-Law-Commission-proposes-reforms-to-the-SARs-regime