Anti-Money Laundering (AML) Policies Controls and Procedures (PCPs)

Regulation 19 (1) of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 requires firms in the regulated sector to establish and maintain PCPs to mitigate and manage effectively the risks of money laundering and terrorist financing identified in their risk assessment and to review and update them regularly.

The regulations also specify a number of requirements which must be covered by the PCPs.

We have long experience of advising firms on their PCPs, drafting and reviewing them, and have a deep understanding of the expectations of the Solicitors Regulation Authority and other regulators on what they should cover. This is bolstered by our experience of advising firms on difficult questions of AML law and practice, including suspicious activity reports, tipping off issues, and whether they either can or must cease to act.
As we are practising solicitors, our legal advice on regulatory issues will generally be protected by legal professional privilege.