![]() ![]() The MLR 2017 sets out the additional obligations of private sector firms working in areas of higher money laundering risk. Comply with new obligations relating to record keeping and the provision of information about beneficial ownership if you act as a trustee of a relevant trust. ![]() Make sure your record keeping and data protection systems, policies and procedures meet the requirements of the regulations.Comply with requirements relating to politically exposed persons.Comply with new customer due diligence, enhanced due diligence and simplified due diligence requirements.Apply for approval if you are the beneficial owner, officer or manager of a firm.Apply your policies, procedures and controls across your firm’s group structure (if relevant).Implement systems, policies, controls and procedures to address money laundering and terrorist financing risks and meet the requirements under the MLR 2017.Conduct a money laundering and terrorist financing risk assessment.If you work elsewhere in the regulated sector.Legal activities not covered by the MLR 2017.Legal roles not covered by the MLR 2017.This guidance provides more detail about the MLR 2017 and what is expected of firms, and should be read with this quick guide. The Legal Sector Affinity Group, which represents the legal sector AML supervisors and includes the Law Society and the Solicitors Regulation Authority (SRA), has developed the anti-money laundering (AML) guidance for the legal sector. Our quick guide gives you an overview of the key issues firms need to be aware of. The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) came into force in June 2017. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |