News story: Sanctions and Anti-Money Laundering Act receives Royal Assent

first_imgFor journalists Media enquiries Follow the Foreign Office on Instagram, YouTube and LinkedIn Follow the Foreign Secretary on Twitter @BorisJohnson and Facebook Follow the Foreign Office on Twitter @foreignoffice and Facebook Further information Following this news, Foreign Secretary Boris Johnson said: Royal Assent for the Sanctions and Anti-Money Laundering Act is an important moment for the UK. It is the first of the bills which prepares for life after our exit from the EU to complete its passage through Parliament. Thanks to this new law, once we have left the EU, we will have full control of our own sanctions policy again. That will give us the power to impose sanctions, including for human rights abuses. Sanctions are a key foreign policy and national security tool for the UK, and the new legislation will allow the UK to act in line with our own priorities, as well as with our international partners. It will also provide us with the power to amend and update anti-money laundering and counter-terrorist finance legislation, allowing the Government to keep pace with changing international standards and practices, and help to protect the UK from money laundering and terrorist financing. While we are leaving the EU, we are not leaving Europe, and we will continue to have shared values, interests, and threats with our European and international partners. This makes continued foreign policy cooperation, including on sanctions, in all our interests. I’m also proud that we have added a “Magnitsky amendment” to this legislation. The UK Government is committed to promoting and strengthening universal human rights, holding to account those responsible for the worst violations. This legislation also makes clear that individuals or entities can be sanctioned for the purposes of deterring, or providing accountability for, gross human rights abuses or violations. Email [email protected]last_img read more

News story: CMA provisionally clears media intelligence merger

first_imgNielsen and Ebiquity gather, collate and analyse information on the advertising activity of companies in the UK and overseas.The Competition and Markets Authority (CMA) referred the merger for an in-depth investigation following concerns that the merged company would face little competition from other suppliers for this service.Although both Nielsen and Ebiquity sell advertising intelligence products to UK and international customers, an independent inquiry group of CMA panel members has provisionally found that the design of the products, how they are used and the fact that very few customers switch between the companies means they don’t closely compete. This finding was supported by the fact that they have not invested significant amounts of money or resources in competing for each other’s customers and, according to internal documents, are unlikely to do so in the future.This provisional clearance takes into account the declining demand for advertising research relating to traditional media – such as TV, radio and print – as online and social media continue to grow in importance and take a greater share of total advertising spend. This has put pressure on both companies, which provide intelligence on traditional media.The CMA is now asking for views on these provisional findings by 1 November 2018 and will assess all the evidence before making a final decision. The statutory deadline for the CMA’s final report is 9 December 2018.Further details are available on the merger inquiry case page.last_img read more