Legislation / Legal
HMT: On 10 September 2012 the Government introduced legislation to Parliament to implement important changes to the Money Laundering Regulations 2007. The changes will reduce the regulatory burden imposed by the current regulations, while strengthening the overall anti-money laundering regime. These proposals were set out in July 2012 following extensive consultation and are expected to save firms around £3m a year. The changes to the Regulations will come into force on 1 October 2012. .
HO: The Home Office will begin the process of correcting an anomaly in the criminal records system which has for decades seen gay men unfairly stigmatised, staring on 1 October 2012.
Anyone with a historic conviction, caution, warning or reprimand for consensual gay sex, that meets the conditions laid down in the new Protection of Freedoms Act, will be encouraged to come forward and apply to have these records deleted or disregarded.
HMT: The Public Service Pensions Bill 2013 has been published, with the Bill forecast to save £65bn over the next 50 years, a significant proportion of the total of more than £430bn which the Government’s overall package of reforms to public service pensions is estimated to save. Reforms will reduce public service pensions costs by around half, delivering sustainability for the long-term while ensuring that public service pensions remain amongst the very best available.