Money Laundering Regulations 2017—nominated officer—annual AML and counter terrorist financing report to the board, senior management team or other—law firms

The following Practice Compliance precedent provides comprehensive and up to date legal information covering:

  • Money Laundering Regulations 2017—nominated officer—annual AML and counter terrorist financing report to the board, senior management team or other—law firms
  • 1 General information
  • 2 Action points arising from last nominated officer report
  • 3 Executive summary
  • 4 Report
  • 5 Conclusions and recommendations

Money Laundering Regulations 2017—nominated officer—annual AML and counter terrorist financing report to the board, senior management team or other—law firms

    1. 1

      General information

      Date of this report[Insert]
      Date of last report[Insert]
      Name of person submitting report[Insert]
    1. 2

      Action points arising from last nominated officer report

      Action pointPerson responsibleStatus
      [Action point][Identify person responsible for this action point (may or may not be the nominated officer)][Status]
      [Action point][Identify person responsible for this action point (may or may not be the nominated officer)][Status]
      [Action point][Identify person responsible for this action point (may or may not be the nominated officer)][Status]
    1. 3

      Executive summary

      This report sets out the following matters:

      1. 3.1

        AML/CTF governance arrangements—see section 4.1;

      1. 3.2

        summary of business operations—see section 4.2;

      1. 3.3

        report on operation of AML and counter-terrorist financing (CTF) systems and controls—see section 4.3;

      1. 3.4

        conclusions and recommendations—see section 5.

    1. 4

      Report

      1. 4.1

        Governance

        1. 4.1.1

          Money laundering compliance officer (MLCO)

          1. (a)

            MLCO—details and functions

            1. (a)

              Details

              Name[Insert]
              [Duration or date of appointment][[If you rotate the MLCO role around several individuals, state when the current MLCO was appointed and when their appointment is expected to expire. Remember that you will need to notify the SRA each time your MLCO changes.]]
            1. (b)

              Functions and resources

              The MLCO is the [insert status in a way that denotes board-level or equivalent seniority, eg board member] appointed as the officer

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