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Anti-Money Laundering & Combating Terrorist Financing Code

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This Code must be read with the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct. The the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct is the parent document of the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC Handbook and Frameworks; it sits above all other Codes in our the sum of Codes, Guidance, Frameworks and Policies, which set out the responsibilities of the Regulated Community and our approach to regulation.regulatory arrangements. The the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct prescribes six Ethical PluralCAPITAL an essential quality; a characteristic, behaviour or ethic, which must be demonstrated so that positive Outcomes are generated for Clients.Principles of behaviour which are essential to delivering the specific delivery of a positive result for Clients; it is the end result of the application of a principle or specific requirement the CLC’s Regulatory Arrangements are focused upon these Outcomes, which everyone who we regulate must deliver.Outcomes which sit beneath each of the Ethical PluralCAPITAL an essential quality; a characteristic, behaviour or ethic, which must be demonstrated so that positive Outcomes are generated for Clients.Principles. All the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC regulated individuals and bodies are expected to comply with the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct in the delivery of authorised under the Code of Conduct this means that Authorised Persons must personally carry out or supervise the Reserved Legal Activity provided.reserved legal activities and permitted non-under the Code of Conduct this means that Authorised Persons must personally carry out or supervise the Reserved Legal Activity provided.reserved legal activities.

The the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC also publishes several other topic specific Codes addressing certain important areas of practice, including this Anti-Money Laundering & Combating Terrorist Financing Code. Topic specific Codes underpin the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct and support regulated individuals and bodies in delivering the Ethical PluralCAPITAL an essential quality; a characteristic, behaviour or ethic, which must be demonstrated so that positive Outcomes are generated for Clients.Principles and delivery of a positive result for Clients; it is the end result of the application of a principle or specific requirement the CLC’s Regulatory Arrangements are focused upon these Outcomes, which everyone who we regulate must deliver.Outcomes of behaviour defined in the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct. Topic specific Codes apply to all regulated activities carried out by the individuals or bodies specified in that Code.

In this Code ‘you’ refers to individuals and bodies regulated by the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC. You must ensure that you always comply with the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct and topic specific Codes and must not permit anyone else to act or fail to act in such a way as to amount to a breach of this Code, the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct, or the Ethical PluralCAPITAL an essential quality; a characteristic, behaviour or ethic, which must be demonstrated so that positive Outcomes are generated for Clients.Principles.

Should circumstances arise in which there is an apparent conflict between a topic specific Code, the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct, or any other regulatory requirement, you must ensure that you comply with the the parent document of our regulatory arrangements, outlining the Overriding Principles that the regulated community must comply with and the Outcomes which they must deliver.Code of Conduct. If in doubt, contact the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC for advice.

You must ensure that:

  1. You comply with legislation directed to the prevention of Money Laundering and Combating the Financing of Terrorism, and in particular, the: (a) Proceeds of Crime Act 2002 (as amended); (b) Terrorism Act 2000 (as amended); and Money Laundering Regulations 2007 – SI 2007/2157 (the ML Regulations).anti-money laundering and prevention of financing terrorism legislation.
  2. You arrangements are in place to ensure processes are carried out in an orderly fashion.systematically identify and mitigate risks to the business and to any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Clients.
  3. You maintain proper governance, management, supervision, financial and risk management methods of organisation including systems, procedures, controls, functions, roles, and processes.arrangements and strategic management, risk management, accounting and financial arrangements (including supervisory and audit functions) which eliminate, or reduce to acceptable levels, risks to positive Outcomes.controls.
  4. You must also comply with the following a strict direction for conduct that must be complied with.specific requirements:

  5. You have appropriate management methods of organisation including systems, procedures, controls, functions, roles, and processes.arrangements and systems and strategic management, risk management, accounting and financial arrangements (including supervisory and audit functions) which eliminate, or reduce to acceptable levels, risks to positive Outcomes.controls in place to comply with anti-money laundering regulations.
  6. You ensure that management methods of organisation including systems, procedures, controls, functions, roles, and processes.arrangements, systems and strategic management, risk management, accounting and financial arrangements (including supervisory and audit functions) which eliminate, or reduce to acceptable levels, risks to positive Outcomes.controls enable the identification, assessment, monitoring and management of AML/CTF risk and are appropriate to the nature, scale and complexity of your activities. Any system or product you use must be sufficiently robust to provide the necessary degree of certainty and incorporate qualitative checks that assess the strength of information supplied. It will include data from a range of sources and across time. Your evidence base must be composite and comprehensive.
  7. You carry out regular reviews of the adequacy of management methods of organisation including systems, procedures, controls, functions, roles, and processes.arrangements, systems and strategic management, risk management, accounting and financial arrangements (including supervisory and audit functions) which eliminate, or reduce to acceptable levels, risks to positive Outcomes.controls.
  8. You ensure that, in order to meet your responsibilities under the AML/CTF Legislation your management methods of organisation including systems, procedures, controls, functions, roles, and processes.arrangements, systems and strategic management, risk management, accounting and financial arrangements (including supervisory and audit functions) which eliminate, or reduce to acceptable levels, risks to positive Outcomes.controls include:-

    (a) an appropriate AML/CTF policy;

    (b) appropriate and regular training for  (depending on the context) an individual employed by a CLC body, by an entity regulated by another legal regulator or by a local authority or other employer.employees (of which a record must be kept) in relation to AML/CTF to enable  (depending on the context) an individual employed by a CLC body, by an entity regulated by another legal regulator or by a local authority or other employer.employees to recognise and deal with transactions and other activities which may be related to AML/CTF;

    (c) appropriate internal reporting procedures;

    (d) management and retention of records of includes all of: 1. “Customer Due Diligence measures” (as defined by regulation 5 ML Regulations)
    2. “Ongoing Monitoring” (as defined by Regulation 8(2) ML Regulations)
    3. “Enhanced Customer Due Diligence measures” (as described in regulation 14 ML Regulations)
    4. ”Enhanced Ongoing Monitoring” (as referred to in regulation 14 ML Regulations).
    CDD
    and information about, suspicion reports received  by the business;

    (e) appropriate measures to ensure that AML/CTF is taken into account in the day to day operation, including the application of appropriate includes all of: 1. “Customer Due Diligence measures” (as defined by regulation 5 ML Regulations)
    2. “Ongoing Monitoring” (as defined by Regulation 8(2) ML Regulations)
    3. “Enhanced Customer Due Diligence measures” (as described in regulation 14 ML Regulations)
    4. ”Enhanced Ongoing Monitoring” (as referred to in regulation 14 ML Regulations).
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    for:-

    (i) dealing with existing any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).clients;

    (ii) the taking on of new any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).clients;

    (iii) dealing with the individual or company which has all the benefits and entitlements of a legal owner, even if not named or registered as the legal owner.Beneficial Owners;

    (iv) incorporating changes in the services provided;

    (f) appropriate includes all of: 1. “Customer Due Diligence measures” (as defined by regulation 5 ML Regulations)
    2. “Ongoing Monitoring” (as defined by Regulation 8(2) ML Regulations)
    3. “Enhanced Customer Due Diligence measures” (as described in regulation 14 ML Regulations)
    4. ”Enhanced Ongoing Monitoring” (as referred to in regulation 14 ML Regulations).
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    measures to ensure that procedures for identifying and verifying new any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).clients and the individual or company which has all the benefits and entitlements of a legal owner, even if not named or registered as the legal owner.Beneficial Owners do not unreasonably deny access to the  services to potential any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).clients who can not reasonably be expected to produce detailed evidence of identity.

  9. You :-

    (a) appoint a a person in a CLC body who receives internal reports (disclosures) of known or suspected money laundering and with responsibility to assess whether a Suspicious Activity Report should be made.Nominated Officer with responsibility to receive suspicion reports and make reports to the the law enforcement agency (replaced SOCA) which has harm reduction responsibilities and which targets criminal activities such as fraud, money laundering and identity theft.National Crime Agency (NCA);

    (b) appoint a means a person who is: a. if the body is a company and its affairs are managed by members, a member; b. if the body is a company and (a) does not apply, a director of the body; c. if the body is a partnership, a partner; d. if the body is a Limited Liability Partnership, an LLP member; e. if the body is an unincorporated body (other than a partnership), a member of its governing body; and f. a licensed conveyancer if sub-paragraphs (a)-(e) do not apply and the affairs of the body are not managed by another licensed conveyancer..manager (who may or may not be the a person in a CLC body who receives internal reports (disclosures) of known or suspected money laundering and with responsibility to assess whether a Suspicious Activity Report should be made.Nominated Officer) with responsibility for ensuring the business complies with this Code;

    (c) ensure that the a person in a CLC body who receives internal reports (disclosures) of known or suspected money laundering and with responsibility to assess whether a Suspicious Activity Report should be made.Nominated Officer or means a person who is: a. if the body is a company and its affairs are managed by members, a member; b. if the body is a company and (a) does not apply, a director of the body; c. if the body is a partnership, a partner; d. if the body is a Limited Liability Partnership, an LLP member; e. if the body is an unincorporated body (other than a partnership), a member of its governing body; and f. a licensed conveyancer if sub-paragraphs (a)-(e) do not apply and the affairs of the body are not managed by another licensed conveyancer..manager has an appropriate level of authority and independence , and access to resources and information sufficient to enable them to carry out that responsibility.

  10. You:

    a)    establish the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client’s identity, obtaining proof of that identity to establish that a any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client is who they say they are and that they live at the address given;

    b)    obtain confirmation of instructions direct from the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client (and from all other interested parties) wherever possible, particularly where they communicate through an intermediary and

    (i) obtain detailed instructions;

    (ii) satisfy itself that the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client is not subject to duress or undue influence and

    (iii) satisfy itself that the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client is entering into the transaction knowingly;

    c)    be satisfied that the any person or persons for whom a Licensed Conveyancer or CLC body acts in the provision of Regulated Services; this may also include a person or persons who may seek the provision of Regulated Services. Client also includes any person for whom a Licensed Conveyancer or Body acts in the provision of Regulated Activities (and may also include a person who may seek the provision of Regulated Activities).Client’s economic position, wealth and lifestyle correspond with the proposed transaction;

    d)    check all signatures to reduce any risk of forgery of the signatures of other interested parties (e.g. a husband who forges his wife’s signature).

  11. Records are stored on the method by which information is stored in a way accessible for future reference (for no less than the period prescribed by the CLC) and which allows the unchanged reproduction of the information stored.Durable Medium.
  12. Should you require many of our regulatory Codes are underpinned by guidance which identify considerations to be borne in mind when seeking to deliver the identified outcomes; the guidance provided is not mandatoryguidance on how to meet the requirements under this Code, please see the the Council for Licensed Conveyancers established under s.12 of the 1985 Act.CLC’s Anti-Money Laundering and Combating Terrorist Financing many of our regulatory Codes are underpinned by guidance which identify considerations to be borne in mind when seeking to deliver the identified outcomes; the guidance provided is not mandatoryGuidance