The Economic Crime and Corporate Transparency Act 2023 has significantly expanded the regulatory objectives of the Solicitors Regulation Authority (SRA). Previously focused on preventing and detecting money laundering and terrorist financing, the SRA’s remit now includes the broader mandate of preventing and detecting economic crime. This broader scope encompasses a wide range of financial crimes, requiring law firms to enhance their compliance frameworks accordingly.

In this informative session, Amy Bell, founder of Teal Compliance, will delve into several critical areas of this expanded regulatory landscape. Key topics include the new “Failure to Prevent Fraud” offence, set to come into force within the next 12 months, which imposes stringent responsibilities on firms to prevent fraudulent activities. Additionally, the session will cover expectations for sanctions compliance, new requirements concerning proliferation financing, and the SRA’s enhanced fining powers related to economic crime.

The agenda will follow:

• The new Failure to prevent Fraud offence, due to be in force within the next 12 months
• What is expected in relation to Sanctions Compliance
• The new requirements around Proliferation Financing
• The SRA new fining powers in relation to Economic Crime and practical tips on how to avoid them.

Amy will provide practical tips to help firms avoid these fines and ensure robust compliance.

This session is essential for all staff within law firms, equipping them with the knowledge and tools to navigate the complexities of the updated regulatory environment.

When: Jul 31, 2024 | 10:00 AM BST
Presented by: Amy Bell – Teal Compliance

Register HERE.