UK SOLICITORS REGULATOR THREATENS FIRMS WITH DISCIPLINARY ACTION FOR FAILING TO COMPLY WITH NEW AML OBLIGATIONS

On 5th March, Legal Futures reported that more than 1 in 10 law firms assessed for compliance with government money laundering obligations by the Solicitors Regulatory Authority brought in last year have been referred for disciplinary action. It reports that so concerned was the SRA about the profession’s AML performance that it issued a public warning notice, after scrutiny of 50 firms led to 6 being earmarked for the disciplinary process.

https://www.legalfutures.co.uk/latest-news/sra-threatens-firms-disciplinary-action-failing-comply-new-aml-obligations

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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