News and information from the world of
regulatory compliance and risk management

LSAG guidance approved by HM Treasury
6 July 2022

The Legal Services Affinity Group (LSAG) is made up of both regulatory and representative bodies for legal services in the UK. It has produced guidance on the anti-money laundering (AML) regulations, which for firms supervised by the SRA for AML now constitutes official guidance. This guidance has been approved by HM Treasury.

To read the guidance, which is subject to change, click Legal Sector Affinity Group Anti-Money Laundering Guidance for the Legal Sector 2021 (PDF 212 pages, 2.2MB)

The SRA has produced a summary of July 2022 changes that HM Treasury has made, the most notable being the emphasis that beneficial owners’ identities must be verified to the same standard as would apply to a client that is a natural person.

To read the SRA’s guidance on Money Laundering compliance click here.

read more articles