Legal regulators agree draft anti-money laundering guidance
The AML Legal Supervisors have agreed draft Legal Sector Anti-Money Laundering Guidance taking account of the changes introduced by Money Laundering Regulations 2017 (http://www.legislation.gov.uk/uksi/2017/692/made) which came into force on 26 June 2017.
It is marked draft because it is subject to approval by HM Treasury which is expected later this year, and so may be subject to change. Once it has been approved by HM Treasury, the Guidance will be published in its final form.
The AML Legal Supervisors comprise the Council for Licensed Conveyancers (CLC) and other legal sector regulators and representative bodies.
Simon Blandy, Director of Regulatory Standards at the CLC, says:
This is very important guidance for all legal professionals, but is particularly relevant to licensed conveyancers. Our regulated community have a significant role to play in ensuring that their services are not used to further criminal activity and we are confident that, once approved, the guidance will assist licensed conveyancers to meet their obligations.”
Kindly shared by Council of Licensed Conveyancers