UK
1993 Criminal Justice Act
Proceeds of Crime Act 2002
Data Protection Act 2000
Corporate Manslaughter and Corporate Homicide Act 2007
Republic of Ireland
1994 Criminal Justice Act
Data Protection Act 1988 & 2003
Criminal Justice (Theft & Fraud Offences) Act 2001
EU
Third EU Directive
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Compliance is all about doing the right thing the right way, alleviating the potential risk to your organisation of fines and penalties imposed due to a failure to comply with changing regulatory and compliance requirements.

All industries face compliance challenges, including the financial services sector. Legislative requirements can affect training. Mandatory training and reporting may be required to ensure compliance. Meeting compliance requirements can be expensive and time-consuming.

How can your organisation find a cost effective way to train employees on the latest compliance regulations, and monitor trainee status and test results, thus ensuring training compliance?
 
3rd EU Anti Money Laundering Directive(2005/60/EC).
Ireland- further delays -It is now expected that the Criminal Justice (Money Laundering) Bill 2009, which will transpose the Third Directive into Irish law, will be passed by July 2009. The Office of the Attorney General is currently working on draft legislation which is available on the regulators site. The legislation may contain specific ID procedures rather than refer to guidelines on this as was expected.

Once transposed, the Irish financial services sector will be required to take additional measures to identify their customers particularly where situations of higher risk have been identified....
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UK Money Laundering officer is fined
For the first time ever in October 2008 the Financial Services Authority (FSA) fined a money laundering reporting officer of SHL, Michael Wheelhouse, £17,500 for not having adequate anti-money laundering systems and controls in place for verifying and recording clients’ identities. Note the FSA did not find any evidence of money laundering at the firm.This is the first time the FSA has fined a money laundering reporting officer.

In Ireland the Regulator have not to date fined an MLRO however two directors of an Irish financial business guilty of money laundering on March 28th 2009....
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The Payment Services Directive (PSD)
The Payment Service Directive ( PSD )will be introduced into the national law of each of the EU 27 member states by November 2009....
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