In accordance with sections 330(8) and 331(7) of the Proceeds of Crime Act 2002, section 21A(6) of the Terrorism ActĢ000, and Regulation 86(2)(b) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Joint Money Laundering Steering Group's guidance. Those professionals should also consider the They are involved in mainstream regulated activities: for example, advising clients directly on investments such as Some independent legal professionals are authorised and regulated by the Financial Conduct Authority (FCA) because You may be asked by your regulatory body to justify a decision to deviate from this guidance. Undertaking its role as regulator of professional conduct, and as a supervisory authority for the purposes of the Legal sector supervisors will take into account whether a legal professional has complied with this guidance when Practice units are not required to follow this guidance. It has been prepared in good faith, but neither the legal sector supervisors nor any of the individuals responsible for or involved in its preparation accept any legal responsibility or liability for The authors will aim to keep this guidance up to date with new legislation as it comes into force, but this guidance cannot be regarded as a definitive statement of the law or of the effect of the law, and does not comprise, and should not be relied on as giving, legal advice. This guidance is issued by the Legal Sector Affinity Group (LSAG), which comprises the AML This guidance replaces previous guidance and good practice information on complying with anti-money laundering (AML) and counter-terrorist financing (CTF) obligations. The guidance replaces our practice note on anti-money laundering and previous versions of the guidance.īrowse the interactive guidance using the navigation on the left-hand side of this page or download a PDF version.ĭownload the guidance Legal Sector Affinity Group anti-money laundering guidance for the legal sector (PDF 2.2 MB) 1.1 Status Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020.Money Laundering and Terrorist Financing (Amendment) Regulations 2019.The Money Laundering Regulations 2017 were amended by the: HM Treasury approved the guidance in July 2022. The guidance was last updated in March 2023. LSAG is made up of the legal sector’s regulatory and representative bodies, including the Law Society of The Legal Sector Affinity Group (LSAG) reviewed and redrafted the guidance following the implementation of the EU 2a is designed to be read independently of part one. trust or company service providers (2b)Ģb and 2c are to be read alongside part one of the guidance.part two: specific anti-money laundering guidance for.part one: anti-money laundering guidance for the legal sector.
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