| Item | Description | Resolution |
|---|---|---|
| PART 1 - PUBLIC | ||
| MATTERS FOR RECOMMENDATION TO THE CABINET | ||
| PO 10/005 |
Anti Money Laundering Policy Update |
The Director of Finance presented an updated Anti Money Laundering Policy and supporting Guidance Notes which reflected the provisions of the Money Laundering Regulations 2007 and guidance issued by CIPFA in July 2009. It was noted that the main change related to the standing of public authorities which were no longer legally obliged to apply the main provisions of the regulations. However it was acknowledged that public authorities should employ policies and procedures which reflected the essence of the UK's anti terrorist financing and anti money laundering legislation. The updated documentation therefore took account of the legislative changes and incorporated a change in the designated Money Laundering Reporting Officer. RECOMMENDED: That the updated Anti Money Laundering Policy and Guidance Notes, as set out at Annexes 1 - 3 of the report, be endorsed and commended for adoption by the Council. *Referred to Cabinet |