"A new review is currently underway as part of the Government’s Cutting Red Tape review programme. The review will examine the impact on business of the current anti-money laundering and terrorist finance regime, and specifically the role of supervisors in that regime.
"The review is looking to identify any aspects of regulatory activity that could be made more efficient – both for those that operate the regime and are subject to it and for enforcing authorities. The eight-week consultation will close on 23 October 2015. Five other sector reviews were launched on 16 July 2015 into: agriculture, care homes, energy, mineral extraction and waste."
Business Secretary Sajid Javid said:
'This new review is about making sure the rules we have to protect our strong financial services industry from abuse are not unintentionally holding back new and existing British business. I want firms to come forward and tell us where regulation is unclear or its enforcement ineffective.'