Information here relates to our last workshop. We'll post details of our next on the main page.
This Workshop is exclusively for Instant Office users. Your MLROs and Compliance Team members will gain a lot from the day but everyone is very welcome.
Our focus is on developing software tools and processes to help you get more out of your day with less effort. Of the many challenges facing legal firms, complying with the increasingly burdensome Regulatory requirements is a hot topic. If you have not had a LSS inspection recently you may not appreciate how high the Compliance bar has been set, nor the grim consequences if your firm does not meet this new standard. The upshot is that we all need to ensure that all regulated work done by our firms is 100% Compliant. Happily, you have an App for that. The purpose of the Workshop is to help you use it fully and effectively.
Our guest speaker: Bill Macreath, Chairman of Levy & MacRae and a founding director of the Legal Defence Union is one of the most pre-eminent court practitioners in Scotland. Amongst his wide range of expertise, he specialises in representing solicitors who are prosecuted by the LSS or the police. He will discuss how we reconcile the tensions between the duty of confidentiality we owe to our clients and our legal and professional duties to report to the police and the LSS.
- New Regulations implementing the UK's take on the 5th ML Directive came into force on 10th January 2020. What do we need to do differently?
- Why, following the FATF Guidance to Legal Professionals issued in July last year, all firms must re-visit their R.18 firm level Risk Assessment. LSS require this be uploaded to the LSS Portal along with the new 2020 AML Certificate. LSS will expect firms to have updated their R.18 Risk Assessment to reflect both the FATF Guidance and the new Regulations.
- action on being told the Police are in reception with a file recovery order
- action on being notified of a LSS AML inspection
- how solicitors reconcile our duties of Client Confidentiality/Privilege and our obligations to disclose/report. Our exposure if we get this wrong.
- Instant Office is cloud based so that staff and clients can access it remotely. But many of us currently rely on meeting clients face to face. Within the next week or so this may not be possible. We urgently need to implement an alternative non-face to face onboarding process, put the tech in place and train our staff (who may be working from home) on what to do.
- This provides firms with an alternative to the traditional face to face onboarding by providing online onboarding using a Secure Room. Clients complete smart forms and upload ID, selfies, bank statements etc directly into your Money Laundering matter in Instant Office.
- the raw data to help firms complete the new LSS Annual AML Certificate that is due by 10th April.
- actual figures of business done in the previous period that the MLRO can use to review the firm's R.18 Risk Assessment and the PCPs that flow from it.
- figures for the MLRO's quarterly report to the Senior Management team