UK Sanctions & AML Bill second reading

HOLsThe UK Sanctions and Anti-Money Laundering Bill went to Second Reading debate in the House of Lords last week for almost 4 hours. The Government described the Bill as being a “technical”, “about powers and not policy”, which creates powers for the UK to impose sanctions post Brexit. The debate covered a number of aspects of the Bill on both money laundering and sanctions.

As regards sanctions, concerns were expressed about (inter alia) the fact that the Bill delegates so many powers to the Executive (using so-called “Henry VIII clauses”), the need to ensure procedural protection for people and entities listed (including those listed by the UN), proportionality, compliance costs, licensing for NGOs, sanctions by description/ country connection, and ensuring no reduction rights currently existing in EU law.

The Minister (Lord Ahmad of Wimbledon) agreed to write to peers in response to some of their questions, and also to the Joint Committee on Human Rights this week. The Bill goes to the Committee stage starting on 21 November 2017 where amendments will be tabled.

This entry was posted in United Kingdom by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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