U.K. law firm Denton Wilde Sapte is to issue anti-money laundering guidance aimed at setting out senior management responsibilities, according to Emma Radmore, a senior solicitor at the London office. Radmore said the guidance, due in two weeks, was in part prompted by the Financial Services Authority‘s decision to add new rules in its Systems and Controls Source Book (SYSC). The guidance will draw on discussions the law firm has had with clients as well as the U.K. Joint Money Laundering Steering Group‘s guidance notes (CR, 1/26). The JMLSG’s notes emphasized senior management’s oversight of AML programs.
Announced in January, SYSC requires senior managers to take on increased responsibility in all areas of financial crime by August. Radmore said the guidance, which is still being finalized, will come in a bullet-point format.