Firms reminded on AML review deadline
The Law Society has reminded firms that the deadline for responding to an AML thematic review of business-risk assessments is 30 September.
Thematic reviews are reviews conducted on supervisory topics to analyse compliance levels and identify trends that assist in the provision of guidance.
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, launched the review in July.
All law firms have received formal notification and now 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 after the review.