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Latest on risk management, professional indemnity and compliance issues.
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March 23, 2021
Law Society: Anti-money laundering and terrorist financing glossary
See here.
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March 22, 2021
SRA: updated Tax Adviser guidance
See here.
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March 15, 2021
SRA guidance note: Approval of role holders
See here.
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March 10, 2021
American Bar Association Formal Opinion 498 on Virtual Practice
See here.
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March 10, 2021
OFSI Updated guidance on monetary penalties for breaches of financial sanctions (effective 1 April 2021)
See here.
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March 10, 2021
European Banking Authority Guidelines On Customer Due Diligence And The Factors Credit And Financial Institutions Should Consider When Assessing The ML/TF Risk Associated With Individual Business Relationships And Occasional Transactions
This includes guidance in relation to simplified due diligence on pooled accounts at 9.16-9.19, including ‘identifying and verifying the identity of the customer, including the customer’s beneficial owners (but not the customer’s underlying clients)’.
See here.
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March 9, 2021
SRA Guidance: Does your interest in a licensed body require approval?
See here.
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March 8, 2021
SRA Guidance (updated): Multi-disciplinary practices: Regulation of non-reserved legal activity
See here.
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February 26, 2021
IBM Cost of a Data Breach report 2020
See here.
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February 26, 2021
OECD report – Ending the Shell Game: Cracking down on the Professionals who enable Tax and White Collar Crimes
The report includes recommendations on “targeting professional enablers and disrupting their activities.”
See here.
