On 24 November, Legal Futures reported that the Solicitors Regulation Authority (SRA) identified authority, independence and resources as the key pillars of the roles of money laundering compliance officer (MLCO) and reporting officer (MLRO) – while most it talked to were generally fulfilling the first 2, the third was the biggest challenge. It is proposed that MLRO and MLCO workloads be reduced and that firms should consider appointing deputies.
The SRA report is at –
https://www.sra.org.uk/sra/how-we-work/reports/money-laundering-governance-three-pillars-of-success/
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