Convention and Office for Professional Body Anti-Money Laundering Supervision: Difference between pages

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(Create page. Source: FCA webpage https://www.fca.org.uk/opbas)
 
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1.  ''International law - treaties.''
''UK - Financial Conduct Authority.''


A treaty between states, especially a multilateral treaty.
(OPBAS).


Examples include the OECD model tax convention.
The Office for Professional Body Anti-Money Laundering Supervision is the regulator set up by the UK government in 2018 to strengthen the UK’s anti-money laundering (AML) supervisory regime and ensure the professional body AML supervisors provide consistently high standards of AML supervision.


OPBAS aims to improve consistency of professional body AML supervision in the accountancy and legal sectors, but does not directly supervise legal and accountancy firms


2.  ''Constitutional law - unwritten parts.''
Parts of the rules and practices of a state that are not written down, but are followed as if they were.
3.  ''Ethics - law - regulation - markets.''
Conventions are standards and principles of conduct that are additional to compliance with regulations and law.
For example, the ACT's Ethical Code requires the ACT's members to comply with "the laws, regulations and conventions of the countries and markets in which they transact business..."


== See also ==
* [[Anti money laundering]]
* [[4MLD]]
* [[Financial Action Task Force]]
* [[Financial Conduct Authority]]
* [[Integration]]
* [[Joint Money Laundering Intelligence Taskforce]]
* [[Joint Money Laundering Steering Group]]
* [[National Economic Crime Centre]]
* [[Know-your-customer]]
* [[Layering]]
* [[Money laundering]]
* [[Placement]]
* [[USA PATRIOT Act]]


4.  ''Markets - professional practice.''


A generally understood and accepted method of doing or saying something.
=== Other resources ===


For example the ACT/360 day count convention for many major currencies, used to calculate short-term interest payable and receivable.
[[Media:2015_03_Mar_-_Squeaky_clean.pdf| Squeaky Clean, The Treasurer, 2015]]
 
Another example is the ''dual aspect convention'' - or ''double entry principle'' - in bookkeeping, that every accounting transaction affects two accounts.
 
 
== See also ==
* [[ACT/360]]
* [[ACT Ethical Code]]
* [[Account]]
* [[Bookkeeping]]
* [[Compliance]]
* [[Conventional year]]
* [[Double entry]]
* [[Ethics]]
* [[Law]]
* [[Multilateral]]
* [[OECD model tax convention]]
* [[Organisation for Economic Co-operation and Development]]  (OECD))
* [[Regulation]]
* [[Sign convention]]
* [[Treaty]]
* [[United Nations Framework Convention on Climate Change]] (UNFCCC)


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:The_business_context]]
[[Category:Corporate_finance]]
[[Category:Financial_products_and_markets]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]

Revision as of 11:02, 20 August 2019

UK - Financial Conduct Authority.

(OPBAS).

The Office for Professional Body Anti-Money Laundering Supervision is the regulator set up by the UK government in 2018 to strengthen the UK’s anti-money laundering (AML) supervisory regime and ensure the professional body AML supervisors provide consistently high standards of AML supervision.

OPBAS aims to improve consistency of professional body AML supervision in the accountancy and legal sectors, but does not directly supervise legal and accountancy firms


See also


Other resources

Squeaky Clean, The Treasurer, 2015

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