The long awaited draft Money Laundering Regulations 2017 (The Money Laundering, Terrorist Financing and Funds (Information on the Payer) Regulations 2017) have just been released. The Criminal Finances Bill, bringing in additional new financial crime offences, including facilitating tax evasion, is expected to come into force around October 2017.
The Regulations will apply directly to law firms from Monday, 26 June 2017;
They run to 106 pages, with 107 Regulations, more than twice as many as the current ones;
They contain an enormous amount of detail which law firms will need to understand and implement very quickly;
They include a requirement to appoint a ‘board/management’ level named individual responsible for compliance and the need to produce a written risk assessment.
This session looks at:
It aims to provide you with practical help in updating your approach, covering the policies, controls and procedures required, training and other key changes. It also aims to preview the new Criminal Finances Act bringing in a new offence of facilitating tax evasion.
All members, especially MLRO’s, are strongly encouraged to attend this event which provides a valuable opportunity to put together an action plan and implement systems in time for the changes coming in.
The seminar will be delivered by Sue Mawdsley - an experienced solicitor with Legal Risk LLP and co-author of The Money Laundering Reporting Officer’s Handbook: A Guide for Solicitors.
To increase accessibility it will take place in the following locations:
Thursday 4 May 2017 City Hotel, Derry 9am -11am
Thursday 4 May 2017 Silverbirch Hotel, Omagh 3pm – 5pm
Friday 5 May 2017 Canal Court Hotel, Newry 9.30am -11.30am
Friday 5 May 2017 Law Society House, Belfast 3pm – 5pm
CPD hours: 2 Client Care and Practice Management