Anti money laundering
Issued on 19 September 2017 | Updates on 9 March 2018
This guidance replaces previous guidance and good practice information on complying with AML/CTF obligations.
The guidance is issued by the Legal Sector Affinity Group, which comprises the AML Supervisors for the legal sector. You are not required to follow this guidance, but doing so will make it easier to account to oversight bodies for your actions.
This guidance is not legal advice, and does not necessarily provide a defence to complaints of misconduct or inadequate professional service.
However, we and other legal sector regulators will take into account whether you have complied with this guidance when undertaking our roles as regulators of professional conduct, and as supervisory authorities for the purposes of the Regulations. You may be asked to justify a decision to deviate from this guidance.
Some independent legal professionals are authorised and regulated by the FCA because they are involved in mainstream regulated activities, eg advising clients directly on investments such as stocks and shares. Those professionals should also consider the Joint Money Laundering Steering Group's guidance.