Law Society Responds to FCA's OPBAS Consultation

Law Society Responds to FCA's OPBAS Consultation

The Law Society has responded to the Financial Conduct Authority’s (FCA) consultation on the plans for a new Office for Professional Body Anti-Money Laundering Supervision (OPBAS). The consultation invited comments on a proposed sourcebook for professional body supervisors and the cost benefit analysis for OPBAS.

The Law Society's response calls for more information on how OPBAS will seek to achieve the stated aims of encouraging collaboration and information sharing between professional body AML supervisors, law enforcement agencies and others.

The full response can be downloaded here.