Source · Select Committees · Treasury Committee
Eleventh Report - Economic Crime
Treasury Committee
HC 145
Published 2 February 2022
Government response
Eighth Special Report - Economic Crime: responses to the Committee’s Eleventh Report · published 28 Apr 2022
Recommendations & Conclusions
12
Recommendation
Not Addressed
We recommend that, in its response to this Report, the Government sets out the legislation...
Recommendation
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 …
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Government Response 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 through an Economic Crime Bill, the timescales for this, and why it has chosen not to bring forward such a bill at this time.
HM Treasury
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32
Recommendation
Not Addressed
Para 142
A timeline showing when the SARs reform programme milestones are expected to be met, and...
Recommendation
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 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.
HM Treasury
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47
Recommendation
Not Addressed
Para 204
While we acknowledge the need to ensure that the gateway for registration of cryptoasset firms...
Recommendation
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 …
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Government Response 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.
HM Treasury
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52
Recommendation
Not Addressed
Para 232
The Government should supply us with details of the project milestones for the Companies House...
Recommendation
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 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.
HM Treasury
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