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CELE SQE1 模拟练习


David Johnson, a solicitor at Green & Co, receives an email from a financial services company introducing a client, Mr. Turner, for a re-mortgage service. The email mentions that Mr. Turner has passed the company's internal anti-money laundering checks. Green & Co values their relationship with the financial services company and is cautious about further investigations without cause. 

What should Green & Co do to comply with the Money Laundering Regulations 2007?

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The Money Laundering Regulations 2007 require solicitors to conduct client due diligence when involved in financial transactions. Normally, this includes obtaining documents such as the client's passport and utility bills. However, the regulations permit reliance on an introducing firm’s client identification procedures, provided that firm has confirmed in writing that it adheres to such procedures and has already identified the client. In this case, Green & Co can rely on the financial services company’s confirmation, thereby avoiding unnecessary duplication and maintaining their professional relationship. 

Key Point: This question tests the application of the Money Laundering Regulations 2007 concerning reliance on third-party due diligence. Solicitors must understand when they can rely on the client identification processes of another regulated entity to avoid redundancy while ensuring compliance.



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