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

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imported>Doug Williamson
(Create page. Source: FCA webpage https://www.fca.org.uk/opbas)
 
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The essential feature of a company is that it exists as a separate legal entity distinct from its members.  
''UK - Financial Conduct Authority.''


(OPBAS).


This is the case even if one member owns all the shares. This is known as the separate personality principle.
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.


This principle underpins the whole of company law.
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




The most important consequence of the separate personality principle is that of limited liability.
== 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]]


The company is liable without limit for its own debts but, in a limited liability company, the members, as distinct from the company, have limited liability.


=== Other resources ===


== See also ==
[[Media:2015_03_Mar_-_Squeaky_clean.pdf| Squeaky Clean, The Treasurer, 2015]]
* [[Company]]
* [[Legal person]]
* [[Limited liability]]
* [[Separate personality principle]]


[[Category:Compliance_and_audit]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Financial_products_and_markets]]

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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