A Client and Matter Risk Assessment (CMRA) is a regulatory requirement for evaluating money laundering and terrorist financing risks associated with a client or matter. It aids in determining the appropriate level of due diligence (CDD) required under the Money… Read More »Good and Poor Practice for Client and Matter Risk Assessments
All firms regulated by the Solicitors Regulation Authority (SRA) have been contacted regarding a data collection exercise. Firms are required to answer questions about the work they carry out within the scope of the Money Laundering, Terrorist Financing and Transfer… Read More »Anti-Money Laundering and Sanctions Data Collection by the SRA
As of July 2024, the Solicitors Regulation Authority (SRA) has introduced a new financial penalties framework under the Economic Crime and Corporate Transparency Act (ECCTA) 2023 which has granted the regulator unlimited fining powers. The SRA’s consultation document released June… Read More »Unlimited Fining Powers by the SRA