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Cautious welcome from Creditors for new Insolvency Rules

The process of replacing the Insolvency Rules 1986 and 28 subsequent amendments has necessarily involved difficult balancing exercises between the interests of numerous stakeholders, but the general consensus among creditors is that The Insolvency (England and Wales) Rules 2016 (SI 2016/1024) (“IR 2016”) which came into force on 6 April 2017 are likely to significantly improve the insolvency process for most creditors.

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New Money Laundering Regulations

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26 June 2017. The new Regulations implement the Fourth EU Money Laundering Directive (“MLD4”) and entirely replace the Money Laundering Regulations 2007, and their provisions are markedly more comprehensive.

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