What does an AML audit involve?
We love an AML audit and really enjoy reviewing law firms’ policies and procedures to see the different approaches they take in respect of AML. Most of all, we find
Legal Compliance
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Anti-Money Laundering – What to expect from an Independent Audit
Regulation 21 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (otherwise known as the Money Laundering Regulations) requires that regulated firms
Do you have to collect CDD on employees of clients?
This is a question I get asked loads of times! In fact, last week I had a client who has a policy of asking for ID for employees, and their
Economic Crime (Anti-Money Laundering) Levy
With all that is going on at the moment, its quite likely that you are not aware that the Government has introduced the Economic Crime (Anti-Money Laundering) Levy. This previously
Anti-money laundering top 10 tips
The legal sector is vulnerable to money laundering – and we’re here to help law firms with compliance and training, and make sure you’re fully equipped to ‘stop the baddies’. The credibility of a
Think you’re not a Tax Adviser? Think again!
On 23 November 2020 the SRA released guidance that may have been missed by many of you. What’s the purpose of the SRA Guidance? The purpose of the guidance was
New AML Guidance needs a careful review
On 20th January 2021 the Legal Sector Affinity Group (LSAG) finally issued their new draft AML guidance for law firms. Since 2017 LSAG have agreed to issue one sector wide
A look at the new Freelance Solicitor Model
In November 2019, the SRA introduced a new model of operating for so-called ‘freelance solicitors’. The intention of the freelance solicitor model was to allow solicitors greater flexibility when providing
Merging under pressure and compliance due diligence
There are firms that, for one reason or another, are finding themselves in unexpected commercial difficulties that make their longer term viability questionable. Radical reconstruction by consolidation through merger may be
Managing Risks When Supervising Remotely
Effective supervision has always been important from a risk management perspective but never more so than now, when it comes to managing risks when working remotely. Especially if you’re having