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CLC AML Risk Assessment

13 August, 2018

This risk assessment sets out the main money laundering risks that we consider relevant to those we supervise. View this document as a pdf here.   Why is money laundering a risk? Money laundering is the process of concealing the origin, ownership or destination of illegally or dishonestly-obtained money by hiding it within legitimate economic [Read more]

July 2018 Managers Newsletter

26 July, 2018

Thank you to the many of you who attended one of our compliance roadshows. We have had very positive feedback and those of you who were at one of the events let us know you find them of value. We had useful discussions on a range of key issues and material in this newsletter follows [Read more]

National Risk Assessment 2017 – A summary for CLC Practices

24 July, 2018

View this document as a pdf here.   The National Risk Assessment 2017 (NRA) was published on 26 October 2017. The report sets out the key money laundering (ML) and terrorist financing (TF) risks for the UK, how these have changed since the UK’s first NRA was published in 2015, and the action taken since 2015 to [Read more]

Anti-money laundering red flags

13 July, 2018

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) came into force on 26 June 2017, replacing the Money Laundering Regulations 2007. Our guidance on the changes can be found here. The CLC supervises those it regulates for compliance with money laundering legislation. To comply with your [Read more]

Fraud in conveyancing transactions after P&P and Dreamvar

6 July, 2018

The recent Court of Appeal judgment in the P&P and Dreamvar cases raised concerns about fraud in conveyancing transactions. This is a reminder of the things you may want to consider to help identify and prevent a fraudulent transaction from taking place: You should carry out appropriate client due diligence (CDD) and Know Your Client [Read more]

QSG (Quick Start Guides)

21 December, 2017

Overview Accounts Code Code of Conduct Complaints Code Equality Code Licensed Body (ABS) Licensing Code Outcomes Principles Handbook Overview Quick Start Guides seek to achieve what their name implies, by providing a basic introduction to, and overview, of the area which each covers. QSGs are provided on Outcomes-Focused Regulation; Outcomes and Overriding Principles; the CLC [Read more]

Guidance

21 December, 2017

This non-mandatory Guidance accompanies many of the Handbook Codes. Regulatory Arrangements Guidance – Universal Overview Accounts Guidance Anti-Money Laundering Guidance Complaints Guidance Conflicts of Interest Guidance Dealing with Non-Authorised Persons Guidance Equality Guidance Estimates and Terms of Engagement Guidance Management and Supervision Arrangements Guidance Notification Guidance Professional Indemnity Insurance Guidance Transaction Files Guidance Undertakings Guidance [Read more]

Handbook

21 December, 2017

  Overview Handbook – Regulatory Arrangements Universal Overview Introduction Code of Conduct Anti-Money Laundering & Combating Terrorist Financing Code Accounts Code Complaints Code Conflicts of Interest Code Continuing Professional Development Code Dealing with Non-Authorised Persons Code Disclosure of Profits and Advantage Code Equality Code Estimates and Terms of Engagement Code Management and Supervision Arrangements Code [Read more]

Changes to CLC handook

5 January, 2015

Overview In December 2014, the CLC made 3 Exemption Direction applications to the Legal Services Board, related to a range of technical and minor drafting alterations to the CLC Handbook and associated documents: CLC Anti-Money Laundering and Combating Terrorist Financing Code additions – safeguards duplicated from Mortgage Fraud Code Changes to timeframes of First Tier Tribunal [Read more]

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