Legal Finance News
- SRA Code of Conduct and SRA Accounts Rules Amendments
The Solicitors Regulation Authority (SRA) published the new SRA Handbook on 6 October 2011. The SRA Handbook includes t...SRA Code of Conduct and SRA Accounts Rules Amendments - read more
- New CPD Training Course for COFA's
With the name of the individual who will act as a firm's Compliance Officer for Finance and Administration (COFA) having...New CPD Training Course for COFA's - read more
Anti Money Laundering Training
Legal Finance Professionals provide an Anti Money Laundering training course.
Money Laundering Regulations 2007
3 CPD Hours“An excellent practical examination of Money Laundering - an attention holding lecturer.” G.T. Partner, Leeds
This course examines the key provisions of the Terrorism Act 2000, Proceeds of Crime Act 2002 and the Money Laundering Regulations 2007 as they affect solicitors in private practice. Detailed consideration of The Law Society's Anti-Money Laundering Practice Note ensures that delegates attending the course will be aware of what is considered to be best practice in this important area. A review of relevant disciplinary cases will help delegates to understand the regulatory approach adopted by the Solicitors Regulation Authority and the main areas of work where problems are most likely to arise.
Topics covered:
The Money Laundering Process
- Brief history of money laundering
- The definition of money laundering
- The money laundering process
- Practical examples within a legal firm
Outline of the Legal Framework
- Financial Action Task Force
- European Directives
- Proceeds of Crime Act 2002
- Terrorism Act 2000
- Money Laundering Regulations 2007
Money Laundering/Terrorism Offences
- Proceeds of Crime Act 2002
- Terrorism Act 2000
Money Laundering Regulations 2007
- Services to which they apply
- Extent of customer due diligence requirements
- Practical application of due diligence requirements
- Requirements relating to beneficial owners
- Timing of due diligence
- Renewing due diligence
- Ongoing monitoring requirements
The Role of SOCA
- Suspicious Activity Reports (SAR's)
- Seeking Consent
Enforcement
- Role of the SRA
- Powers under the Money Laundering Regulations 2007
This course is designed to meet the needs of Nominated Officers, Money Laundering Reporting Officers (MLRO's), sole practitioners, partners, members, directors, managers, fee earners, compliance/risk officers, practice managers and finance staff working within a solicitors practice or Alternative Business Structure (ABS).