To what extent can current regulatory approaches prevent and control financial crimes, in particular, the crime of money laundering in the UK?

LL.M International and Commercial Law Session 2019/20 LAW 1190 Banking and Finance Law Assessment Please select ONE of the following as your extended essay coursework: 1. Greendock is a small city located in south-east England. In the summer of 2019, a Saxon heritage site was discovered in the rural areas of Greendock, which has generated great interest worldwide. Meanwhile, due to its close ferry link with Europe, several new holiday parks near the beach are under construction. At the beginning of 2020, the local housing authority decided to build 4,500 new homes to attract further investors. Having realised the full potential of the city, the Greendock City Council has approached you for legal advice. The City Council believes that, if other currencies such as the Euro, US Dollar, and RMB, Yen, etc. can be widely used here, it will be more beneficial to the local economy. Furthermore, the City Council is also planning to install some Cryptocurrency ATMs. Advise GreendockCity Council. You should consider the notion of legal tender, the status of other currencies, and the practicality of the above proposal. 2. Critically examine the role of the Crediting Rating Agencies (CRAs) in financial market and assess the effectiveness of the regulatory regime on CRAs. 3. To what extent can current regulatory approaches prevent and control financial crimes, in particular, the crime of money laundering in the UK? Note: Submission deadline: 9:00a.m.Hong Kong Time, 25 September2020.The Turnitin link to submit the essay can be found on the course Moodle website. Retain a copy of the coursework for your own records. Word Count: 3,500 words, excluding footnotes, references and bibliography. Please indicate the number of words at the end of your work. This assessment represents 100% of the final mark for this course. Academic referencing is required.