Money Laundering The Legal Position Andrew Campbell University of Leeds

Size: px
Start display at page:

Download "Money Laundering The Legal Position Andrew Campbell University of Leeds a.campbell@leeds.ac.uk"

Transcription

1 Money Laundering The Legal Position Andrew Campbell University of Leeds

2 Introduction Why is this important? Most of us will now be covered to some extent by the anti money laundering regime There have been a number of successful prosecutions for money laundering offences

3 He clearly closed his eyes to the obvious Solicitor jailed after home fraud July 2006 Sale of house at massive undervalue Some of the UK s leading banks have been fined for AML failures

4 The Legal Framework The Substantive Law The Money Laundering Regulations 2003 It is important that you are aware of the legal framework

5 The Proceeds of Crime Act The substantive criminal law is to be found in Part 7 of POCA and the relevant anti-terrorism provisions Prior to POCA the relevant offences were scattered in a number of separate pieces of legislation

6 Concealing etc. Section 327 is the first principal offence and it makes it an offence to conceal, disguise, convert, transfer or remove criminal property from England and Wales, Scotland or Northern Ireland.

7 Section 327(3) provides that this includes concealing or disguising the nature, source, location, disposition, movement or ownership or any rights with respect to it.

8 Arrangements The second principal money laundering offence is contained in section 328 which provides: A person commits an offence if he enters into or becomes concerned in an arrangement which he knows or suspects facilitates (by whatever means) the acquisition, retention, use or control of criminal property by or on behalf of another person.

9 This offence can be committed in any or more of the five ways referred to. Where a person handles money which is derived from the proceeds of a criminal offence there is potential liability.

10 ..which he knows or suspects Knowledge is a straightforward concept which should not cause any problems but suspicion raises many more issues. What will amount to suspicion for the purposes of this offence?

11 The Joint Money Laundering Steering Group gives the following guidance: Suspicion is personal and subjective and falls far short of proof based on firm evidence.

12 Suspicion has been defined by the courts as being beyond mere speculation and based on some foundations i.e. a degree of satisfaction and not necessarily amounting to belief but at least extending beyond speculation as to whether an event has occurred or not.

13 Acquisition etc. The third principal offence is in section 329(1) which makes it an offence to acquire, use or have possession of criminal property.

14 Disclosure and Tipping Off The other two offences are concerned with either failing to make a disclosure or to tip off that a disclosure has been made.

15 Sections are concerned with failures to disclose. Section 330 applies where a person has failed to make a disclosure where a person knows or suspects money laundering and also where there are reasonable grounds for such knowledge or suspicion.

16 The offence only applies where the information is gained in the course of a regulated business. Regulated business now goes beyond the financial services sector and includes, for example, solicitors and accountants.

17 Once a disclosure report has been made it is an offence to tip off another person that a report has been made. This carries a penalty of up to five years imprisonment and is clearly considered a serious offence.

18 Defences Section 328(2) provides a defence where the accused makes a disclosure in the proper manner. It is also a defence where the accused can show that he or she had a reasonable excuse for not making the disclosure section 328(2)(b). There is no judicial authority as yet to clarify what would be required to satisfy this defence

19 There is also the defence of adequate consideration see section 329(2)( c). But will not apply if you know or suspect that the goods or services have been or will be used in criminal conduct.

20 The Regulations The Money laundering Regulations 2003 (came into effect on 1 st March 2004) They are the implementation of the Second European Money laundering Directive

21 Failure to comply with the Regulations is a criminal offence The Regulations apply to businesses and persons within the regulated sector. Universities? The Regulations require that the following are complied with: (a) training of staff (b) customer/client identification

22 (c ) record keeping (d) reporting procedures The Regulations will only apply to relevant business

23 What is relevant business? Reg 2(2) (n) the activity of dealing in goods of any description by way of business.whenever a transaction involves accepting a total cash payment of 15,000 Euro or more

24 Regulation 3 All persons carrying on relevant business are to establish such procedures of internal control and communication as may be appropriate for the purpose of forestalling and preventing money laundering.

25 Procedures have to be established to cover: Training - Reg 3 Client identification Reg 4 Record keeping Reg 6 Reporting Reg 7

26 Scenarios An overseas student turns up and wants to pay tuition fees in cash She opens her bag and produces 10,000 in cash What should you do?

27 An overseas student has paid tuition fees by way of a bank transfer and has arrived in Leeds He now wants to pay for his hall of residence in cash Any problems with this? What if he is a home student?

28 A student from a high risk country has paid tuition fees Then decides to withdraw and wants a refund payable by cheque to another person What should you do?

29 The Department of Computing has a significant amount of slightly out of date equipment it wants to sell Advertises in local media Buyer wants to buy for cash Makes an offer of 10,000

30 A supplier, who you have not used before, pays you a cheque for 8,000 which you bank right away When checking the invoice it is noticed that the payment should have been for 3,000 The supplier asks you to write a cheque for the difference payable to a third party

31 Some observations Keep a sense of proportion Use common sense Don t try to be Sherlock Holmes or Hercule Poirot!

Law Society of England and Wales - Chapter 3 - Money Laundering Regulations 2003

Law Society of England and Wales - Chapter 3 - Money Laundering Regulations 2003 Law Society of England and Wales - Chapter 3 - Money Laundering Regulations 2003 Cut down version copied (on 5 November 2006) from: http://www.lawsociety.org.uk/professional/conduct/guideonline/view=page.law?policyid=225045

More information

ANTI-MONEY LAUNDERING POLICY. Introduction

ANTI-MONEY LAUNDERING POLICY. Introduction ANTI-MONEY LAUNDERING POLICY Introduction This Policy outlines how the University and its employees will manage money laundering risks and comply with its legal obligations under the Proceeds of Crime

More information

An Introduction to the UK Anti-Money Laundering Regime. slaughter and may. March 2008

An Introduction to the UK Anti-Money Laundering Regime. slaughter and may. March 2008 An Introduction to the UK Anti-Money Laundering Regime slaughter and may March 2008 contents 1. Introduction 1 1.1 Money Laundering 1 1.2 The Regulated Sector 1 2. UK Anti-Money Laundering Measures 3 2.1

More information

Legal Digest. Money Laundering Offences In Singapore. Naina Parwani. An online repository of various articles published by our lawyers

Legal Digest. Money Laundering Offences In Singapore. Naina Parwani. An online repository of various articles published by our lawyers An online repository of various articles published by our lawyers Money Laundering Offences In Singapore Naina Parwani 1 Rajah & Tann 4 Battery Road #26-01 Bank of China Building Singapore 049908 Tel:

More information

CORNWALL COUNCIL GUIDANCE NOTE ANTI-MONEY LAUNDERING POLICY

CORNWALL COUNCIL GUIDANCE NOTE ANTI-MONEY LAUNDERING POLICY CORNWALL COUNCIL GUIDANCE NOTE ANTI-MONEY LAUNDERING POLICY 1.0 INTRODUCTION 1.1 Historically, legislation seeking to prevent the laundering of the proceeds of criminal activity was aimed at professionals

More information

Anti-Money Laundering Measures in the Cayman Islands

Anti-Money Laundering Measures in the Cayman Islands Anti-Money Laundering Measures in the Cayman Islands Foreword This memorandum has been prepared for the assistance of those who are considering the law of the Cayman Islands (sometimes referred to as Cayman

More information

Practice Note. 12(Revised) September 2010 MONEY LAUNDERING GUIDANCE FOR AUDITORS ON UK LEGISLATION

Practice Note. 12(Revised) September 2010 MONEY LAUNDERING GUIDANCE FOR AUDITORS ON UK LEGISLATION September 2010 Practice Note 12(Revised) MONEY LAUNDERING GUIDANCE FOR AUDITORS ON UK LEGISLATION The Auditing Practices Board (APB), which is part of the Financial Reporting Council (FRC), prepares for

More information

To update Market Participants on developments in Money Laundering legislation

To update Market Participants on developments in Money Laundering legislation market bulletin Ref: Y4161 Title Purpose Type From Money Laundering To update Market Participants on developments in Money Laundering legislation Updated Money Laundering Guidance Andy Wragg, International

More information

ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING POLICY STATEMENT 2014-2015

ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING POLICY STATEMENT 2014-2015 ANTI-MONEY LAUNDERING AND COUNTER-TERRORIST FINANCING POLICY STATEMENT 2014-2015 This document sets out the policy of Pendragon PLC ( the Company ) with a view to the prevention of opportunities for money

More information

The Obligation to Report Suspected Money Laundering - UK Requirements. Williams, Donald. The European Legal Forum (E) 4/5-2005, 187-192

The Obligation to Report Suspected Money Laundering - UK Requirements. Williams, Donald. The European Legal Forum (E) 4/5-2005, 187-192 Williams, Donald The Obligation to Report Suspected Money Laundering - UK Requirements The European Legal Forum (E) 4/5-2005, 187-192 2005 IPR Verlag GmbH München The European Legal Forum - Internet Portal

More information

UNDERSTANDING MONEY LAUNDERING

UNDERSTANDING MONEY LAUNDERING UNDERSTANDING MONEY LAUNDERING Preface In light of the international concerns growing on money laundering and the financing of terrorist activities, many countries have taken rigorous measures to curb

More information

lexcel law practice consultants

lexcel law practice consultants lexcel law practice consultants Danger In The Laundry: Risks For All Under Money Laundering Laws (Part 1) This article was published in the Law Institute Journal (Victoria) in November 2008 and the Law

More information

Enforced subject access (section 56)

Enforced subject access (section 56) ICO lo Enforced subject access (section 56) Data Protection Act Contents Introduction... 2 Overview.3 The criminal offence.... 3 Exceptions and penalties.... 7 Relevant records....... 8 Other considerations

More information

Anti Money Laundering. Cork. Fergus Bradley November 2011

Anti Money Laundering. Cork. Fergus Bradley November 2011 Anti Money Laundering Cork Fergus Bradley November 2011 Program Objectives Define Money Laundering Understand Corporate & Personal responsibilities i Define some Best Practices Keep up to date with changes

More information

Cayman Islands Compliance Officer and the Role of the Money Laundering Reporting Officer

Cayman Islands Compliance Officer and the Role of the Money Laundering Reporting Officer Cayman Islands Compliance Officer and the Role of the Money Laundering Reporting Officer Introduction Money laundering is the process by which the direct or indirect benefit of crime is channelled through

More information

THE UK S ANTI-MONEY LAUNDERING LEGISLATION AND THE DATA PROTECTION ACT 1998 GUIDANCE NOTES FOR THE FINANCIAL SECTOR. April 2002

THE UK S ANTI-MONEY LAUNDERING LEGISLATION AND THE DATA PROTECTION ACT 1998 GUIDANCE NOTES FOR THE FINANCIAL SECTOR. April 2002 THE UK S ANTI-MONEY LAUNDERING LEGISLATION AND THE DATA PROTECTION ACT 1998 GUIDANCE NOTES FOR THE FINANCIAL SECTOR April 2002 Introduction 1. This guidance has been prepared by the Government departments

More information

Position of the GOJ regarding the Proceeds of Crime Act (POCA) implementation of task force headed by BOJ

Position of the GOJ regarding the Proceeds of Crime Act (POCA) implementation of task force headed by BOJ The Proceeds of Crime Act Considerations Regarding The Duties of Attorneys by Allan S Wood Q.C. Jamaican Bar Association/General Legal Council Continuing Legal Education Seminar 19 th November 2011 Position

More information

Purpose of this document

Purpose of this document Independent Financial Advisors (IFAs), Mortgage Brokers and Retail Intermediaries: Identifying Risks to your Business and Reporting Suspicious Activity This is a United Kingdom Financial Intelligence Unit

More information

Thompson Jenner LLP Last revised April 2013 Standard Terms of Business

Thompson Jenner LLP Last revised April 2013 Standard Terms of Business The following standard terms of business apply to all engagements accepted by Thompson Jenner LLP. All work carried out is subject to these terms except where changes are expressly agreed in writing. 1

More information

DRUG TRAFFICKING OFFENCES (AMENDMENT) ACT 2004

DRUG TRAFFICKING OFFENCES (AMENDMENT) ACT 2004 ANGUILLA DRUG TRAFFICKING OFFENCES (AMENDMENT) ACT 2004 PUBLISHED BY AUTHORITY DRUG TRAFFICKING OFFENCES (AMENDMENT) ACT 2004 ARRANGEMENT OF SECTIONS SECTION 1. Interpretation 2. Amendment of section 1

More information

The UK anti-money laundering regime: Statutory offences and the role of the FSA. slaughter and may. March 2009

The UK anti-money laundering regime: Statutory offences and the role of the FSA. slaughter and may. March 2009 The UK anti-money laundering regime: Statutory offences and the role of the FSA slaughter and may March 2009 contents 1. Part 1 : The UK statutory framework 1 1.1 Introduction 1 1.2 Statutory offences

More information

Overview of Irish Law on Money Laundering

Overview of Irish Law on Money Laundering Overview of Irish Law on Money Laundering The material provided below is for information purposes only and does not constitute a legal document nor does it act as an interpretation of the law The main

More information

Professional Ethics Study and assessment guide

Professional Ethics Study and assessment guide Professional Ethics Study and assessment guide 2013 AAT Accounting Qualification Version date: December 2013 (version 3) c Changes to the previous version of this document are shown in blue Professional

More information

INTERNATIONAL STANDARD ON AUDITING (UK AND IRELAND) 250 SECTION A - CONSIDERATION OF LAWS AND REGULATIONS IN AN AUDIT OF FINANCIAL STATEMENTS CONTENTS

INTERNATIONAL STANDARD ON AUDITING (UK AND IRELAND) 250 SECTION A - CONSIDERATION OF LAWS AND REGULATIONS IN AN AUDIT OF FINANCIAL STATEMENTS CONTENTS INTERNATIONAL STANDARD ON AUDITING (UK AND IRELAND) 250 SECTION A - CONSIDERATION OF LAWS AND REGULATIONS IN AN AUDIT OF FINANCIAL STATEMENTS (Effective for audits of financial statements for periods ending

More information

ANTI-MONEY LAUNDERING POLICY AND GUIDANCE NOTES

ANTI-MONEY LAUNDERING POLICY AND GUIDANCE NOTES ANTI-MONEY LAUNDERING POLICY AND GUIDANCE NOTES MARCH 2016 CONTENTS PAGE Policy SADC Anti-Money Laundering Policy Statement 3 Money Laundering Guidance Notes Background 5 Treasury Management 6 Miscellaneous

More information

BIS guidance for foreign exchange providers: compliance with consumer protection legislation SEPTEMBER 2012

BIS guidance for foreign exchange providers: compliance with consumer protection legislation SEPTEMBER 2012 BIS guidance for foreign exchange providers: compliance with consumer protection legislation SEPTEMBER 2012 Contents BIS GUIDANCE FOR FOREIGN EXCHANGE PROVIDERS: COMPLIANCE WITH CONSUMER PROTECTION LEGISLATION...

More information

??????????? MONEY LAUNDERING REPORTING OFFICER (MLRO)

??????????? MONEY LAUNDERING REPORTING OFFICER (MLRO) ??????????? MONEY LAUNDERING REPORTING OFFICER (MLRO) REQUIREMENTS TO HAVE AN MLRO INTERNATIONAL REQUIREMENT DOMESTIC LEGISLATION RULE BOOK AML/CFT HANDBOOK FATF RECOMMENDATIONS R 13. If a financial institution

More information

MPS GROUP GLOBAL ANTI-MONEY LAUNDERING POLICY

MPS GROUP GLOBAL ANTI-MONEY LAUNDERING POLICY Siena, march 2012 Pag. 1 di 5 MPS GROUP 1 - A p p l i c a t i o n This Global Anti-Money Laundering Policy (Policy) applies to all Banca Monte dei Paschi di Siena subsidiaries and branches (collectively

More information

Strategic analysis brief Money laundering through real estate

Strategic analysis brief Money laundering through real estate Strategic analysis brief Money laundering through real estate Strategic analysis briefs AUSTRAC strategic analysis briefs provide insights for government and industry on money laundering and terrorism

More information

Running your business and trading.

Running your business and trading. Running your business and trading. Supporting you on your business journey. When setting up a new business, it s essential that you re familiar with the relevant aspects of the law. Breaking a law because

More information

John Partridge Solicitor t/a SME Legal Services terms and conditions

John Partridge Solicitor t/a SME Legal Services terms and conditions John Partridge Solicitor t/a SME Legal Services terms and conditions Our aim We aim to offer our clients quality legal advice with a personal service at a fair cost. As a start, we hope it is helpful to

More information

ADELAIDE BRIGHTON LIMITED ACN 007 596 018

ADELAIDE BRIGHTON LIMITED ACN 007 596 018 ADELAIDE BRIGHTON LIMITED ACN 007 596 018 CONTINUOUS DISCLOSURE POLICY 1 Introduction This policy sets out Adelaide Brighton Limited s (the Company) practice in relation to continuous disclosure. This

More information

Money Laundering Regulations 2007: supervision of Estate Agency Businesses

Money Laundering Regulations 2007: supervision of Estate Agency Businesses Money Laundering Regulations 2007: supervision of Estate Agency Businesses Contents 1. Money laundering and Estate Agency Businesses 2. Responsibilities of senior managers 3. Policies and procedures 4.

More information

Reporting and tipping off

Reporting and tipping off Reporting and tipping off Andrew Le Brun Vladimir Jizdny Financial crime policy 1 Overview Reporting knowledge or suspicion Reporting requirement Person carrying on a financial services business Person

More information

FOREIGN EXCHANGE ACT, 1992 ARRANGEMENT OF SECTIONS. Title PART I PRELIMINARY PROVISIONS

FOREIGN EXCHANGE ACT, 1992 ARRANGEMENT OF SECTIONS. Title PART I PRELIMINARY PROVISIONS FOREIGN EXCHANGE ACT, ARRANGEMENT OF SECTIONS Section Title PART I PRELIMINARY PROVISIONS 1. Short title. 2. Commencement. 3. Application. 4. Interpretation. PART II PROVISIONS FOR FOREIGN EXCHANGE ADMINISTRATION

More information

Our agreement with you

Our agreement with you Our agreement with you Virgin Credit Card Terms CREDIT CARD AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT 1974 You can ask us for a copy of this agreement at any time. 1. Who provides the credit card?

More information

Dr. Nicholas Ryder Professor in Financial Crime Department of Law

Dr. Nicholas Ryder Professor in Financial Crime Department of Law Money laundering and the United Kingdom: a haven for dirty money and an endless cycle? A critical reflection on the United Kingdom s anti-money laundering policies Dr. Nicholas Ryder Professor in Financial

More information

Office of the Regulator of Community Interest Companies: Introduction and guidance notes. Chapter 3: Limited Companies NOVEMBER 2012

Office of the Regulator of Community Interest Companies: Introduction and guidance notes. Chapter 3: Limited Companies NOVEMBER 2012 Office of the Regulator of Community Interest Companies: Introduction and guidance notes Chapter 3: Limited Companies NOVEMBER 2012 Contents 3.1. Community interest companies - limited liability companies...

More information

ILM Factsheet Money laundering regulations

ILM Factsheet Money laundering regulations Prepared for ILM by Wilsons In 2002 the IMF estimated that 157 billion was being laundered through the UK economy. In 2003 HM Customs and Excise estimated that the proceeds of crime generated in the UK

More information

Choosing Business and Company Names

Choosing Business and Company Names Choosing Business and Company Names Business Information Factsheet BIF368 February 2015 Introduction Naming a business is an important consideration for anyone starting a new venture. Business owners must

More information

Anti-Money Laundering and Anti-Terrorist Financing Training for Producer and their employees

Anti-Money Laundering and Anti-Terrorist Financing Training for Producer and their employees Anti-Money Laundering and Anti-Terrorist Financing Training for Producer and their employees Agenda Refresher on money laundering Review our compliance regime why we do what we do Q&A What is Money Laundering?

More information

MONEY LAUNDERING GUIDANCE FOR MEMBERS OF

MONEY LAUNDERING GUIDANCE FOR MEMBERS OF MONEY LAUNDERING GUIDANCE FOR MEMBERS OF National Federation of Property Professionals Royal Institution of Chartered Surveyors Association of Relocation Professionals Association of Residential Managing

More information

MTN Mobile Money 2012

MTN Mobile Money 2012 MTN Mobile Money 2012 Anti-Money Laundering It is the policy of MTN to prohibit and actively prevent the use of its money transfer services to facilitate money laundering, the funding of terrorists or

More information

ANTI - MONEY LAUNDERING POLICY

ANTI - MONEY LAUNDERING POLICY BANK M TANZANIA LTD POLICY DOCUMENT ANTI - MONEY LAUNDERING POLICY FEBRUARY 2007 Page 1 of 8 AML POLICY TABLE OF CONTENTS NO. PARTICULARS PAGE NO. 1 INTRODUCTION 3 2 DEFINITIONS 3-4 3 SCOPE OF THE POLICY

More information

Congratulations... ...and thank you for buying a Motoring First policy.

Congratulations... ...and thank you for buying a Motoring First policy. 2 Congratulations......and thank you for buying a Motoring First policy. This document explains exactly what is covered by Licence Shield, how to make a claim, important contact details and much more.

More information

Money laundering: the prevention of money laundering and combating the financing of terrorism Guidance for remote and non-remote casinos Second

Money laundering: the prevention of money laundering and combating the financing of terrorism Guidance for remote and non-remote casinos Second Money laundering: the prevention of money laundering and combating the financing of terrorism Guidance for remote and non-remote casinos Second edition July 2013 Contents Part 1: Summary of the guidance

More information

PLEASE CONTACT US IF YOU REQUIRE THESE TERMS OF BUSINESS IN LARGER PRINT. Painters. Version 3: January 2014

PLEASE CONTACT US IF YOU REQUIRE THESE TERMS OF BUSINESS IN LARGER PRINT. Painters. Version 3: January 2014 PLEASE CONTACT US IF YOU REQUIRE THESE TERMS OF BUSINESS IN LARGER PRINT Painters Terms of Business Version 3: January 2014 Introduction We aim to offer our clients quality legal advice with a personal

More information

ANTI-MONEY LAUNDERING GUIDANCE FOR THE ACCOUNTANCY SECTOR

ANTI-MONEY LAUNDERING GUIDANCE FOR THE ACCOUNTANCY SECTOR PO Box 433 Chartered Accountants' Hall Moorgate Place, London EC2P 2BJ Telephone: 020 7920 8100 Facsimile: 020 7628 1874 Email: admin@ccab.org.uk Website: http://www.ccab.org.uk The Institute of Chartered

More information

Criminal appeals. Page 1 of 19 Criminal appeals version 3.0 Published for Home Office staff on 08 July 2015

Criminal appeals. Page 1 of 19 Criminal appeals version 3.0 Published for Home Office staff on 08 July 2015 Page 1 of 19 Criminal appeals version 3.0 Published for Home Office staff on 08 July 2015 About this guidance An overview of appeals Appeals relating to immigration enforcement investigation cases The

More information

3. Structuring your company in the UK

3. Structuring your company in the UK 3. Structuring your company in the UK 3.1 Making sure the law is on your side The legal framework governing company registration in the UK The primary legislation governing the incorporation and registration

More information

Number 6 of 2010 CRIMINAL JUSTICE (MONEY LAUNDERING AND TERRORIST FINANCING) ACT 2010 ARRANGEMENT OF SECTIONS. PART 1 Preliminary

Number 6 of 2010 CRIMINAL JUSTICE (MONEY LAUNDERING AND TERRORIST FINANCING) ACT 2010 ARRANGEMENT OF SECTIONS. PART 1 Preliminary Number 6 of 2010 CRIMINAL JUSTICE (MONEY LAUNDERING AND TERRORIST FINANCING) ACT 2010 ARRANGEMENT OF SECTIONS PART 1 Preliminary Section 1. Short title and commencement. 2. Interpretation. 3. Regulations.

More information

PART 3 The Basics 10

PART 3 The Basics 10 PART 3 The Basics 10 PART 3 The Basics A. What is Money Laundering? 3.1 Put simply, money laundering covers all kinds of methods used to change the identity of illegally obtained money (i.e. crime proceeds)

More information

THE BRIBERY ACT2010. Quick start guide

THE BRIBERY ACT2010. Quick start guide THE BRIBERY ACT2010 Quick start guide The Bribery Act 2010 modernises the law on bribery. It comes into force on 1 July 2011. This document offers a quick guide to the things you need to know to prepare

More information

Quick House Sales. Market Study Annexe A: What are the main laws that may apply to quick house sales? August 2013 OFT1499A

Quick House Sales. Market Study Annexe A: What are the main laws that may apply to quick house sales? August 2013 OFT1499A Quick House Sales Market Study Annexe A: What are the main laws that may apply to quick house sales? August 2013 OFT1499A Crown copyright 2013 You may reuse this information (not including logos) free

More information

Your Virgin Essential Current Account

Your Virgin Essential Current Account Your Virgin Essential Current Account The Terms July 2015 These are the Terms of your Virgin Essential Current Account. These Terms, along with our Welcome guide, make up our agreement with you. We give

More information

(Unofficial translation by the Financial and Capital Market Commission)

(Unofficial translation by the Financial and Capital Market Commission) (Unofficial translation by the Financial and Capital Market Commission) Text consolidated with amending laws of 12 December 2008; 01 December 2009; 10 December 2009. If a whole or part of a section has

More information

FRASER DAWBARNS LLP GENERAL TERMS OF BUSINESS

FRASER DAWBARNS LLP GENERAL TERMS OF BUSINESS 1. Status FRASER DAWBARNS LLP GENERAL TERMS OF BUSINESS Fraser Dawbarns LLP ( the Firm ) is a Limited Liability Partnership which is registered at the Law Society number OC353893 and authorised and regulated

More information

ACT. [Long title substituted by s. 27 (1) of Act 33 of 2004.]

ACT. [Long title substituted by s. 27 (1) of Act 33 of 2004.] FINANCIAL INTELLIGENCE CENTRE ACT 38 OF 2001 [ASSENTED TO 28 NOVEMBER 2001] [DATE OF COMMENCEMENT: 1 FEBRUARY 2002] (Unless otherwise indicated) (English text signed by the President) as amended by Protection

More information

Strategic analysis brief Money laundering through legal practitioners

Strategic analysis brief Money laundering through legal practitioners Strategic analysis brief Money laundering through legal practitioners Strategic analysis briefs AUSTRAC strategic analysis briefs provide insights for government and industry on money laundering and terrorism

More information

Corporate Legal Alert

Corporate Legal Alert Corporate Legal Alert Trading disclosures for companies: more new rules On 1 October 2008, UK companies will be subject to revised trading disclosure requirements under the Companies Act 2006 and the Companies

More information

General overview of changes. Legislative changes. Andrew Le Brun Hamish Armstrong Financial crime policy. Overview (1)

General overview of changes. Legislative changes. Andrew Le Brun Hamish Armstrong Financial crime policy. Overview (1) General overview of changes Andrew Le Brun Hamish Armstrong Financial crime policy 1 Legislative changes 2 Overview (1) Legislative changes Money Laundering (Amendment No. 6) (Jersey) Order 2013 ( MLO

More information

Hire Agreement Offices

Hire Agreement Offices Hire Agreement Offices 19.1.1.1 Grou Vestry Hall, Cricket Green, Mitcham, Surrey. CR4 3UD In the London Borough of Merton Page 1 of 6 This Hire Agreement made the day of 20.. Between 1. London Borough

More information

General Conditions for Bank of Cyprus UK CharityBonds (April 2013)

General Conditions for Bank of Cyprus UK CharityBonds (April 2013) General Conditions for Bank of Cyprus UK CharityBonds (April 2013) Bank of Cyprus UK Limited ( we/our/us ), trading as Bank of Cyprus UK, incorporated in England and Wales as company number 04728421, a

More information

ATO Submission Inquiry into penalties for white collar crime

ATO Submission Inquiry into penalties for white collar crime ATO Submission Inquiry into penalties for white collar crime Senate Economics References Committee 1 April 2016 EXTERNAL UNCLASSIFIED Table of Contents Introduction... 3 Executive summary... 3 The scope

More information

Anti-Bribery and Corruption Policy

Anti-Bribery and Corruption Policy Newcrest strictly prohibits bribery and other unlawful or improper payments made to any individual or entity, as outlined in this Anti-Bribery & Corruption Policy. Newcrest's Anti- Bribery & Corruption

More information

Canada Agent. Compliance Guide

Canada Agent. Compliance Guide Anti-Money Laundering Compliance Guide Proceeds of Crime (Money Laundering) & Terrorist Financing Act (PCMLTFA) Canada Agent Compliance Guide Reporting Requirements Recordkeeping FINTRAC Resources Employee

More information

Regulated Mortgages. March 2012

Regulated Mortgages. March 2012 Regulated Mortgages March 2012 1 Introduction Since 31 October 2004, Regulated Mortgage Contracts have been subject to statutory control, supervised by the Financial Services Authority ("FSA"). Under Section

More information

ICAEW TECHNICAL RELEASE TECH 01/11

ICAEW TECHNICAL RELEASE TECH 01/11 ICAEW TECHNICAL RELEASE TECH 01/11 TECH 01/11: GUIDANCE FOR DIRECTORS ON ACCOUNTING RECORDS UNDER THE COMPANIES ACT 2006 Contents Paragraph Introduction 1-4 The legal requirements 5-9 The accounts to which

More information

2013 No. 233 ENVIRONMENTAL PROTECTION. The Timber and Timber Products (Placing on the Market) Regulations 2013

2013 No. 233 ENVIRONMENTAL PROTECTION. The Timber and Timber Products (Placing on the Market) Regulations 2013 STATUTORY INSTRUMENTS 2013 No. 233 ENVIRONMENTAL PROTECTION The Timber and Timber Products (Placing on the Market) Regulations 2013 Made - - - - 6th February 2013 Laid before Parliament 8th February 2013

More information

Official information held in private email accounts

Official information held in private email accounts Official information held in private email accounts The Freedom of Information (Jersey) Law, 2011 Published: January 2015 Brunel House, Old Street, St.Helier, Jersey, JE2 3RG Tel: (+44) 1534 716530 Email:

More information

NEWFIELD EXPLORATION COMPANY INSIDER TRADING POLICY. Restated Effective as of March 1, 2013

NEWFIELD EXPLORATION COMPANY INSIDER TRADING POLICY. Restated Effective as of March 1, 2013 NEWFIELD EXPLORATION COMPANY INSIDER TRADING POLICY Restated Effective as of March 1, 2013 The Board of Directors (the Board ) of Newfield Exploration Company (together with its subsidiaries, Newfield

More information

Duties and responsibilities under the Proceeds of Crime Act 2002 Advice to operators (excluding casino operators) Second edition

Duties and responsibilities under the Proceeds of Crime Act 2002 Advice to operators (excluding casino operators) Second edition Duties and responsibilities under the Proceeds of Crime Act 2002 Advice to operators (excluding casino operators) Second edition September 2014 Contents Part 1 - Introduction and summary of the advice

More information

FAQs Organised Crime and Anti-corruption Legislation Bill

FAQs Organised Crime and Anti-corruption Legislation Bill FAQs Organised Crime and Anti-corruption Legislation Bill What is organised crime? Organised crime normally refers to an organisation of criminals who engage in illegal activity on a large, centralised

More information

Terms of Business Effective 25 November 2014

Terms of Business Effective 25 November 2014 Terms of Business Effective 25 November 2014 TERMS OF BUSINESS Effective 25 November 2014 Contents 1 Our contract with you 1 2 Wake Smith LLP 1 3 Scope of our services 1 4 Parties 1 5 Responsibility for

More information

Anti-money laundering guidance for solicitors undertaking property work

Anti-money laundering guidance for solicitors undertaking property work Anti-money laundering guidance for solicitors undertaking property work Thursday 22 December 2005 Introduction 1.Solicitors conducting conveyancing are at risk of money laundering because property transactions

More information

MONEY LAUNDERING GUIDANCE NOTES FOR STOCKBROKERS

MONEY LAUNDERING GUIDANCE NOTES FOR STOCKBROKERS MONEY LAUNDERING GUIDANCE NOTES FOR STOCKBROKERS Issued with the Approval of the Money Laundering Steering Committee February 2004 INDEX Paragraphs Section 1 Background What is Money Laundering? 1-3 Scope

More information

STITT & C Ọ SOLICITORS 11 Gough Square, London EC4A 3DE Tel: 020 7832 0840 Fax: 020 7832 0865 email: info@stitt.co.uk

STITT & C Ọ SOLICITORS 11 Gough Square, London EC4A 3DE Tel: 020 7832 0840 Fax: 020 7832 0865 email: info@stitt.co.uk STITT & C Ọ SOLICITORS 11 Gough Square, London EC4A 3DE Tel: 020 7832 0840 Fax: 020 7832 0865 email: info@stitt.co.uk TERMS OF ENGAGEMENT 1. Service Commitment We aim to offer our clients quality legal

More information

late payment The Late Payment of Commercial Debts (Interest) Act 1998: A User s Guide

late payment The Late Payment of Commercial Debts (Interest) Act 1998: A User s Guide late payment The Late Payment of Commercial Debts (Interest) Act 1998: A User s Guide Index Introduction The importance of prompt payment Legal Warning Section 1: Understanding the legislation What is

More information

Anti Money Laundering. Cork. Fergus Bradley Jan 2014

Anti Money Laundering. Cork. Fergus Bradley Jan 2014 Anti Money Laundering Cork Fergus Bradley Jan 2014 Agenda Focus on key obligations of AML Review CBI industry feedback Look at practical steps in AML in business Incorporate CJA Act 2013 implications CBI

More information

Clarity OSS Limited Share Trading Policy

Clarity OSS Limited Share Trading Policy Clarity OSS Limited Share Trading Policy Last updated: December 2011 Table of Contents 1 TRADING OF CLARITY SHARES... 3 2 WHAT IS INSIDER TRADING... 3 3 WHAT IS PRICE SENSITIVE INFORMATION... 3 4 WHO IS

More information

Application for a Scrap Metal Licence

Application for a Scrap Metal Licence Application for a Scrap Metal Licence SECTION 1. TYPE OF APPLICATION (For all applicants) Please indicate the type of licence you are applying for (please tick): A site licence A collector s licence Are

More information

Berdie Dixon Daley Director FINANCIAL INTELLIGENCE UNIT (FIU) FINANCIAL INVESTIGATIONS DIVISION

Berdie Dixon Daley Director FINANCIAL INTELLIGENCE UNIT (FIU) FINANCIAL INVESTIGATIONS DIVISION Berdie Dixon Daley Director FINANCIAL INTELLIGENCE UNIT (FIU) FINANCIAL INVESTIGATIONS DIVISION MANDATE OF THE FID Receipt, analysis and dissemination of information of suspicious activities. The investigation

More information

An employer s guide to the administration of the civil penalty scheme

An employer s guide to the administration of the civil penalty scheme An employer s guide to the administration of the civil penalty scheme 28 July 2014 Produced by the Home Office Crown copyright 2014 Contents 1. Introduction... 3 Changes to the scheme in May 2014... 3

More information

ADVANCED ANTI-MONEY LAUNDERING COURSE. Course Notes

ADVANCED ANTI-MONEY LAUNDERING COURSE. Course Notes ADVANCED ANTI-MONEY LAUNDERING COURSE Course Notes Course Provider: Course: Riliance Training Limited Advanced Continuing Professional Development (CPD) The person undertaking this course has been awarded

More information

Mesothelioma Act 2014

Mesothelioma Act 2014 Mesothelioma Act 2014 CHAPTER 1 Explanatory Notes have been produced to assist in the understanding of this Act and are available separately 5.75 Mesothelioma Act 2014 CHAPTER 1 CONTENTS Diffuse Mesothelioma

More information

By Directors, Officers and Employees of Hellaby Holdings Limited and its Subsidiaries ( The Company )

By Directors, Officers and Employees of Hellaby Holdings Limited and its Subsidiaries ( The Company ) Code of Conduct for Securities Trading ( Code ) By Directors, Officers and Employees of Hellaby Holdings Limited and its Subsidiaries ( The Company ) Approved by the Board: 10 May 2013 1. Introduction

More information

CANADA BUSINESS CORPORATIONS ACT: INSIDER TRADING

CANADA BUSINESS CORPORATIONS ACT: INSIDER TRADING PRB 99-38E CANADA BUSINESS CORPORATIONS ACT: INSIDER TRADING Penny Becklumb Law and Government Division Revised 14 October 2008 PARLIAMENTARY INFORMATION AND RESEARCH SERVICE SERVICE D INFORMATION ET DE

More information

Identity Cards Act 2006

Identity Cards Act 2006 Identity Cards Act 2006 CHAPTER 15 Explanatory Notes have been produced to assist in the understanding of this Act and are available separately 6 50 Identity Cards Act 2006 CHAPTER 15 CONTENTS Registration

More information

Draft Communications Data Bill

Draft Communications Data Bill Draft Communications Data Bill Presented to Parliament by the Secretary of State for the Home Department by Command of Her Majesty June 2012 Cm 8359 20.00 Crown copyright 2012 You may re-use this information

More information

Pinsent Masons. Competition Law Dawn Raid Checklist & Guidelines. What to do in the first hour of a dawn raid

Pinsent Masons. Competition Law Dawn Raid Checklist & Guidelines. What to do in the first hour of a dawn raid Pinsent Masons Competition Law Dawn Raid Checklist & Guidelines What to do in the first hour of a dawn raid What to do in the first hour of a Competition Dawn Raid Checklist Action Point Done? The Officials

More information

Anti-Money Laundering, Anti- Terrorism Financing and Proceeds of Unlawful Activities Act 2001

Anti-Money Laundering, Anti- Terrorism Financing and Proceeds of Unlawful Activities Act 2001 LAWS OF MALAYSIA Act 613 Anti-Money Laundering, Anti- Terrorism Financing and Proceeds of Unlawful Activities Act 2001 Date of Royal Assent Date of publication in the Gazette 25-Jun-2001 5-Jul-2001 An

More information

The estate agency guide. What you need to know if you are engaged in estate agency work

The estate agency guide. What you need to know if you are engaged in estate agency work The estate agency guide What you need to know if you are engaged in estate agency work This booklet is for people who are engaged in estate agency work. Even if you are not called an estate agent, you

More information

JPR INSURANCE BROKERS LIMITED TERMS OF BUSINESS AGREEMENT (TOBA)

JPR INSURANCE BROKERS LIMITED TERMS OF BUSINESS AGREEMENT (TOBA) 1. Please read this document carefully. JPR INSURANCE BROKERS LIMITED TERMS OF BUSINESS AGREEMENT (TOBA) It sets out the terms on which we agree to act for our clients and contains details of our regulatory

More information

first direct credit card terms

first direct credit card terms first direct credit card terms 1 Definitions These are the definitions used in this Agreement: : a transfer to the Account of an amount you owe to another lender (who is not a member of the HSBC Group)

More information

Appendix 1. The text in this appendix is new and is not underlined and struck through in the usual manner. The DFSA Rulebook

Appendix 1. The text in this appendix is new and is not underlined and struck through in the usual manner. The DFSA Rulebook Appendix 1 The text in this appendix is new and is not underlined and struck through in the usual manner. The DFSA Rulebook Representative Office Module (REP) Contents The contents of this module are divided

More information

1. Introduction. The laws of any jurisdiction other than England & Wales Taxes or duties Financial investment.

1. Introduction. The laws of any jurisdiction other than England & Wales Taxes or duties Financial investment. 1. Introduction 1.1 This document, together with our Engagement Letter, explains the basis upon which we work for you. These two documents constitute the contract between you and The Law House. In the

More information

Motor Insurers Bureau Making a claim

Motor Insurers Bureau Making a claim Motor Insurers Bureau Making a claim A brief guide This booklet This booklet gives important information about the Motor Insurers Bureau (MIB) and making a claim. Please read it carefully before you fill

More information

GB MINERALS LTD INSIDER TRADING POLICY

GB MINERALS LTD INSIDER TRADING POLICY GB MINERALS LTD INSIDER TRADING POLICY (as approved by the Board of Directors in May 2014) - 2 - Contents 1. POLICY STATEMENT... 3 2. PERSONS AND SECURITIES COVERED BY THIS POLICY... 3 3. MATERIAL NON-PUBLIC

More information

GUIDANCE MANUAL TO COMBAT MONEY LAUNDERING And TERRORIST FINANCING

GUIDANCE MANUAL TO COMBAT MONEY LAUNDERING And TERRORIST FINANCING GUIDANCE MANUAL TO COMBAT MONEY LAUNDERING And TERRORIST FINANCING This document has been designed to assist life insurance agents and brokers in complying with their legal obligations under Canada s anti-money

More information

TECH 02/06. Paragraphs. Introduction 1-8. Legal advice 9. Litigation 10. Examples of Privileged Circumstances 11-14

TECH 02/06. Paragraphs. Introduction 1-8. Legal advice 9. Litigation 10. Examples of Privileged Circumstances 11-14 technical release TECH 02/06 GUIDANCE ON CHANGES TO THE MONEY LAUNDERING REPORTING REQUIREMENTS: THE EXEMPTION FROM REPORTING KNOWLEDGE OR SUSPICION OF MONEY LAUNDERING FORMED IN PRIVILEGED CIRCUMSTANCES

More information