The following Practice Compliance precedent provides comprehensive and up to date legal information covering:
STOP PRESS: Draft Legal Sector Affinity Group (LSAG) AML guidance was published on 20 January 2021. It awaits approval by HM Treasury and any content may be amended before the final version is published with the Treasury's approval. This document reflects HM Treasury approved LSAG AML guidance published in 2018 and will be updated in due course.
(nominated officer use only)
A record of this Suspicious Activity Report (SAR) will be kept by the nominated officer for at least five years.
You must use this form in every case where you know or suspect that another person is engaged in money laundering or terrorist financing or where you have knowledge or suspicion of:
—bribery or corruption
—slavery or human trafficking
—organised crime group involvement, or
—tax evasion facilitation
If you are unsure as to whether you have such a suspicion, please do not use this form but instead seek guidance from the nominated officer.
General (complete all sections)
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This Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in exchange for something of value, known as
This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
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This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to a contract of insurance without the requisite regulatory permissionsThe
0330 161 1234
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