12
Recommendation
Eleventh Report - Economic Crime
Not Addressed
We recommend that, in its response to this Report, the Government sets out the legislation which is being worked upon across Government and that is relevant to addressing economic crime, and provides an assessment of the measures that might be required to be brought in through an Economic Crime Bill, …
Read more
We recommend that, in its response to this Report, the Government sets out the legislation which is being worked upon across Government and that is relevant to addressing economic crime, and provides an assessment of the measures that might be required to be brought in through an Economic Crime Bill, the timescales for this, and why it has chosen not to bring forward such a bill at this time. (Paragraph 61) Online economic crime
Show less
Government response AI summary
We recommend that, in its response to this Report, the Government sets out the legislation which is being worked upon across Government and that is relevant to addressing economic crime, and provides an assessment of the measures that might be required to be brought in …
Read full response →
HM Treasury
32
Recommendation
Eleventh Report - Economic Crime
Not Addressed
A timeline showing when the SARs reform programme milestones are expected to be met, and an annual progress report on the programme, should be provided to this Committee.
Government response AI summary
The government discusses the Economic Crime (Anti-Money Laundering) Levy, its intention to publish an annual report, and investment in tackling economic crime and fraud, but does not directly address providing a timeline and annual progress report on the SARs reform programme to the Committee.
Read full response →
HM Treasury
47
Recommendation
Eleventh Report - Economic Crime
Not Addressed
While we acknowledge the need to ensure that the gateway for registration of cryptoasset firms for anti-money laundering should be a rigorous process, registration has been too slow. It needs to be speeded up, and the Government should work with the FCA to find a solution. The FCA should not …
Read more
While we acknowledge the need to ensure that the gateway for registration of cryptoasset firms for anti-money laundering should be a rigorous process, registration has been too slow. It needs to be speeded up, and the Government should work with the FCA to find a solution. The FCA should not extend the deadline for registration again beyond March 2022. If the FCA sees no alternative, it should write to the Committee to explain its position.
Show less
Government response AI summary
The response discusses the Economic Crime Levy and government spending on economic crime, which is unrelated to the recommendation about cryptoasset firm registration delays at the FCA.
Read full response →
HM Treasury
52
Recommendation
Eleventh Report - Economic Crime
Not Addressed
The Government should supply us with details of the project milestones for the Companies House transformation programme, together with an annual progress report.
Government response AI summary
The government recognises the importance of delivering Companies House reform and has provided BEIS with £63 million over the Spending Review period to facilitate reforms.
Read full response →
HM Treasury