Moved by
Lord Mendelsohn
49B: After Clause 14, insert the following new Clause—
“Report on money laundering regulations
(1) The Small Business Commissioner shall prepare and publish a report assessing a regulator’s performance and effectiveness at ensuring regulations are proportionate, user friendly, widely promoted and easily adapted by small businesses in relation to money laundering regulations.
(2) The report provided for by subsection (1) must include an assessment of the role of the Financial Conduct Authority and its activities to encourage awareness of the impact of money laundering regulations on small businesses.
(3) In this section a regulator is a person with regulatory functions to which section 108 of the Deregulation Act 2015 applies.”