United Kingdom: New money laundering regime introduces additional compliance duties for pension scheme trustees

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July 14 2017

New money laundering requirements came into effect on 26 June 2017 which impose new compliance obligations on trustees of occupational pension schemes. There are three key duties which centre on record-keeping, the provision of information to third parties in certain circumstances and submitting information to HM Revenue & Customs (HMRC) for purposes of its register of beneficial ownership.