Law Society launches AML thematic review
The Law Society Regulation Department's AML unit, in accordance with its duties as the competent authority to monitor compliance with AML in the solicitors’ profession, will be launching an AML thematic review of business risk assessments during July.
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Thematic reviews are reviews conducted on supervisory topics to analyse compliance levels and identify trends that assist in the provision of guidance.
All law firms will receive formal notification shortly and will have until 30 September to submit an up-to-date business risk assessment for the firm to the Law Society for review.
A report outlining key findings will be issued following the review.