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This record keeping checklist consolidates obligations found in the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, as amended. It further sets out suggested actions and practical steps. The Checklist directs you towards relevant Precedents that you may adopt, adapt or tailor to meet these requirements and recommendations. For extra guidance, see Practice Note: Money Laundering Regulations 2017—record keeping or, for law firms, Money Laundering Regulations 2017—record keeping (law firms). The manner, medium or physical or digital location in which records are retained is immaterial, provided you can promptly retrieve the necessary information and evidence, especially if you are asked to supply customer/client due diligence (CDD) documentation to a party that relies on you, or to investigators or other enforcement officers. Record type For how long? Compulsory or recommended? Comments (if any) ☐ Records, documents or information connected with, and arising in the context of, an occasional transaction — Five years from the point at which...

This paper mirrors Legal Sector Affinity Group (LSAG) AML guidance. Requirement Mandatory or advised? Notes (if any) ☐ Create a documented process regarding the origin of funds and the origin of wealth Recommended See Precedent: AML, CTF and counter-proliferation financing policy—law firms...

This Checklist This Checklist should be read alongside Practice Notes: Trusts—disclosure of beneficial ownership information through the Trust Registration Service (TRS), and Practice Notes: record-keeping and Trust Registration Service (TRS). See also Practice Notes: Trust Registration Service (TRS)—table of registration requirements and deadlines, and Trust Registration Service (TRS)—trusts excluded from registration. These Practice Notes provide guidance on trustees’ obligations arising from implementing, in relation to trust registration, the EU’s Fourth Anti-Money Laundering Directive, Directive (EU) 2015/849 (4MLD), via the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, and the EU’s Fifth Anti-Money Laundering Directive, Directive (EU) 2018/843 (5MLD), via the Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 (MLR 2020), SI 2020/991. As part of this implementation, and for the purposes of this Checklist, references to MLR 2017, SI 2017/692 include the amendments incorporated when MLR 2020, SI 2020/991 took effect, unless stated otherwise. Beneficial owners of a trust include the settlor(s), trustee(s), beneficiaries, and any other...

Checklist This checklist outlines the principal matters to consider when preparing or assessing an outsourcing agreement. It addresses central legal, regulatory and practical questions that arise in outsourcing arrangements, while excluding sectors that carry bespoke regulatory regimes, such as health or financial services. For overarching guidance on outsourcing, consult Practice Note: Outsourcing—key terms. For discussion of negotiation points you are likely to encounter, see Practice Notes: Negotiation guide—services agreements and Negotiation guide—IT contracts. As you progress through the checklist, the third column can be used to capture observations or comments as each point is considered... Further information Notes (if any) Initial considerations What is the customer’s main reason for outsourcing? Knowing the driver—e.g. cutting costs, enhancing service quality, or obtaining a function the customer lacks the capability to deliver internally—will help. Also think about the breadth of the outsourcing, whether a service improvement mechanism is desired, and if value for money will be tested by benchmarking (see below)... Confirm whether any existing...

This flowchart sets out the principal taxes relevant to UK residential property arrangements for UK resident and domiciled individuals, and should be read alongside the Practice Note: UK residential property ownership structures for UK resident and domiciled individuals—taxation outline...

In this issue: Key DR developments Claims and remedies Costs and funding Cross-border disputes Injunctions Civil appeals New content Dates for your diary Useful information Daily and weekly news alerts Key DR developments CPR updates 174th Practice Direction update effective 5 November 2024: The Master of the Rolls and the Parliamentary Under-Secretary of State for Justice have authorised the 174th Practice Direction (PD) update to the Civil Procedure Rules (CPR). The changes take effect at 11am on 5 November 2024. This PD update amends CPR PD 51ZE (Small Claims Track Automatic Referral to Mediation Pilot Scheme) and CPR PD 51R (Online Civil Money Claims (OCMC) Pilot Scheme), expanding the obligation to engage in integrated mediation in civil matters to money claims submitted via the OCMC service. For more information, see: LNB News 22/10/2024 127—174th Practice Direction update—in force 5 November 2024. Court guidance Damages Claims Pilot under CPR PD 51ZB—updated guidance:...

A tribunal on 16 May 2025 confirmed that the NCA’s belief that Mohammed Butt and Mahfooz Begum obtained their income through money laundering stands as correct, and it upheld an earlier court’s decision. The authority said it had sufficient proof drawn from the couple’s lifestyle choices set against their publicly declared earnings. Butt was detained in 2012 on suspicion of money laundering linked to an organised crime group, the ruling noted. He was not charged because there was insufficient evidence, the tribunal added. By contrast, two of his brothers, as well as his two sons, were prosecuted and found guilty of money laundering and drug trafficking offences, according to the judgment...

See Q&A A client has been given money by his aunt as a gift. His brother has been given an identical sum. The brothers have decided to reserve the money for her care should it be needed, and they have prepared a Deed to record that understanding. Do the provisions of the Deed take precedence over their Wills (which leave their respective estates to their wives)?...

This Practice Note offers a beginner’s overview of construction disputes, intended for trainee solicitors and others unfamiliar with the area. It outlines what a construction disputes lawyer does, the disputes that frequently occur on projects, and gives a primer on adjudication, dispute boards, proceedings in the Technology and Construction Court (TCC), construction arbitration and alternative dispute resolution (ADR). It also considers the nature of disputes that routinely emerge on construction projects and the role undertaken by the disputes lawyer. We suggest reading Practice Note: Construction law—new starter guide, which sets out the core principles of construction law and the characteristics of construction projects, before tackling this note. The content of this Practice Note is also available as a PowerPoint deck with speaker notes—see: Introduction to construction disputes—training materials. You might also consider Practice Note: Dispute Resolution—new starter guide, which addresses dispute resolution more broadly. The work of a construction disputes lawyer Construction lawyers handling disputes (often described as contentious or back-end practice) are typically asked to support clients...

Money Laundering Regulations 2017 and Money Laundering Regulations 2020 The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, sit within the UK’s anti-money laundering and counter-terrorist financing framework. They took effect on 26 June 2017 to implement the EU’s Fourth Anti-Money Laundering Directive, Directive (EU) 2015/849 (4MLD), and have subsequently been broadened significantly by the Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 (MLR 2020), SI 2020/991. Those 2020 amendments give effect to aspects of the EU’s Fifth Anti-Money Laundering Directive, Directive (EU) 2018/843 (5MLD), concerning the registration of trusts. The Money Laundering and Terrorist Financing (Amendment) Regulations 2019, SI 2019/1511, also transposed elements of 5MLD into UK law; however, they addressed areas other than trust registration and therefore fall outside the ambit of this Practice Note. Unless indicated otherwise, references in this Practice Note to MLR 2017, SI 2017/692, should be read as including the changes introduced by MLR 2020, SI 2020/991. The chief focus of...

ARCHIVED : The Tier 1 (Investor) category was closed to initial applications, without warning, from 16:00 on 17 February 2022 through Statement of Changes in Immigration Rules CP 632. Applicants with existing permission in this route can still seek to extend their leave, and may apply for entry clearance from outside the UK if they have held Tier 1 (Investor) leave within the 12 months before the date of application, as well as apply for settlement. Extension applications, whether made in the UK or abroad, must be lodged by 17 February 2026. Applications for indefinite leave to remain must be submitted by 17 February 2028. For additional details, see: LNB News 17/02/2022 76. This Practice Note—last updated before the post-Brexit work and study routes introduced in December 2020 via Statement of Changes in Immigration Rules HC 617—has been kept in archived form for historical interest. Anti-money laundering duties and other client due diligence processes, together with advisers’ own regulatory compliance...

We must not use a client account to provide banking facilities for clients or third parties. This is a firm requirement of rule 3.3 in the SRA Accounts Rules, covering our main client account and any separately designated client accounts as well. Permitting use of our client account as a banking facility creates the risk that we could potentially facilitate money laundering or comparable offences. You must understand and adhere to our policy on anti-money laundering (AML), counter-terrorist financing (CTF), and counter-proliferation financing when taking receipt of client or office monies. This also encompasses our distinct policy on accepting cash. The SRA may levy substantial penalties for breach of rule 3.3. There need not be a risk of money laundering, or any hint of impropriety, for this to apply. A breach of rule 3.3, by itself, is enough for the SRA to impose a penalty on the firm and/or any individuals concerned. We should only accept funds into our client account where...

Substantial cash transactions can indicate money laundering, terrorist funding, or proliferation financing. Do not take any monies (cash or otherwise) from a [ customer OR client ] until the [ customer OR client ] due diligence (CDD) checks have been finalised. While no statutory cap exists on cash, our internal cash policy states you must not receive cash [ over the limit of £[ 250 ] ] in the office or paid straight into our bank...

Source of funds and source of wealth sits within the anti-money laundering, counter-terrorist financing and counter-proliferation financing regime, yet the topic is often poorly understood. This guide highlights frequent myths, including: Source of funds and source of wealth are identical My role is only to verify the customer’s identity I must prove the money is legitimate If money originates from a UK bank, it is automatically clean It’s impolite to ask Risk assessment and software alone will resolve the issue Source of funds and source of wealth are the same They are not the same; while there is significant overlap, they are interrelated and should not be considered in isolation. The Financial Action Taskforce (FATF) provides the following definitions for these terms. Source of funds refers to the origin of the specific funds or other assets that are the subject of the business relationship (e.g. the amount being transferred as part of that relationship). This...

It is not clear whether the donor holds a lasting power of attorney (LPA) for property and affairs (P&A), for health and welfare (H&W), or both. As attorneys have determined that the donor’s home should be sold (necessitating a P&A LPA) and that the donor should move into a care home (necessitating a H&W LPA), we proceed on the basis that both LPAs exist and have been registered. We also proceed on the basis that there is more than one attorney. Where authority to act is several rather than joint, the lending attorney may opt out of any decision in which they have a conflict of interests. It is further assumed that: the donor had adequate capacity to enter into the loan the LPAs do not include specific instructions or preferences about when the donor’s home is to be sold and/or when they are to enter a care home (if present, the attorneys should take them into account) the attorney who advanced the loan wishes...

Beneficiaries of an estate are not entitled to any distribution whilst the estate remains under administration at present...