Draft anti-money laundering guidance
The Law Society have finally published anti-money laundering guidance for solicitors taking account of the changes introduced by the Money Laundering Regulations 2017, which came into force on 26 June 2017.
The guidance is currently marked as ‘draft’ because it is subject to approval by HM Treasury, which is expected later this year, and so may be subject to change.
The guidance will be welcomed by firms who can now finalise their policies in this area to ensure continued compliance with these important obligations.
The guidance is generally regarded as containing few surprises.
The draft guidance can be found at www.lawsociety.org.uk/policy-campaigns/documents/aml-draft-guidance-lsag/