In January 2024 alone, reports were published about the SRA taking enforcement
action against 3 firms and 4 individuals for failure to comply with the Money
Laundering Regulations 2017. The fines issued for these non-compliances total
over £570,000 plus costs. The absence of staff training, or requirement to
complete additional training, was noted in a number of these cases.
As a manager of a law firm, or more crucially an MLRO or MLCO, the ultimate
responsibility for the firm's compliance, including with the MLR 2017, lies with
you. It is your responsibility to ensure that the firm puts in place, reviews
and updates compliant policies, controls and procedures. You must ensure that
the firm maintains an up to date practice wide risk assessment. You are required
to ensure that your employees are regularly given training on the MLR 2017 and
associated risks.
If a breach occurs, the SRA will take a wider look at the firm and identify any
supervisory deficiencies that may have contributed to failures by fee earners or
support staff. It has proven that it will not shy away from holding to account
managers, compliance officers and MLRO/MLCOs for failures by their firms to
comply with requirements of the MLR 2017.
This course will cover the following to assist firms MLROs, MLCOs and Management
with fulfilling their AML management responsibilities:
* How to comply with your obligations and stay compliant
* FWRA – linked with PCPs
* Mandatory AML Policies and Procedures - SRA have concerns
* Training and supervising staff
* Audits
* SRA requirements
* Reporting SARS
* POCA/TA
* Fulfilling reporting officer and compliance officer duties
TARGET AUDIENCE
The online course is suitable for MLROs, MLCOs, firm management and those
supporting these roles.
RESOURCES
Comprehensive and up to date course notes will be provided to all delegates
which may be useful for ongoing reference or cascade training.
Please note a recording of the course will not be made available.
SPEAKER
HELEN TORRESI, CONSULTANT, DG LEGAL
[https://dglegal.co.uk/the-team/helen-torresi/]
Helen is a qualified solicitor with a diverse professional background spanning
leadership roles in both the legal and tech/corporate sectors. Throughout her
career, she has held key positions such as COLP, HOLP, MLCO, MLRO and DPO for
law firms and various regulated businesses and services.
Helen’s specialised areas encompass AML, complaint and firm negligence handling,
DPA compliance, file review and auditing, law management, and operational
effectiveness in law firms, particularly in conveyancing (CQS).