SRA Audits & Inspections - Assistance

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SRA Guidance for Inspections

SRA AML Pre-Visit Questionnaire

Please find below a copy of the SRA AML Pre-Visit Questionnaire. We expect that the Sanctions audits will follow a similar format.

  1. Do you have multiple offices, if so, where are your offices based?
  • What percentage of your firm’s work equates to services that fall within the scope of the MLR 2017?
  1. How many fee earners at your firm (both qualified and unqualified) are undertaking work within scope of the MLR 2017?
  • Please explain the types of services you provide that fall within the definition of an independent legal professional (as defined by regulation 12(1) MLR 2017 below). You should include the percentage of your firm’s work that equates to these services. e.g Residential Conveyancing – 20%.
  • Please explain the types of services you provide that fall within the definition of a trust or company service provider (as defined by regulation 12(2) MLR 2017). You should include the percentage of your firm’s work that equates to these services.
  • Please explain the types of services you provide that fall within the definition of a tax adviser (as defined by regulation 11(d) MLR 2017). You should include the percentage of your firm’s work that equates to these services.
  • When was your regulation 18 MLR 2017 firm wide risk assessment first drafted?
  • When was your regulation 18 MLR 2017 firm wide risk assessment last updated?
  • When was your firm’s regulation 19 MLR 2017 AML policy first drafted?
  • When was your firm’s regulation 19 MLR 2017 AML policy last updated?
  1. How many Defence Against Money Laundering SARs have you submitted in the last 24 months?
  2. How many information SARs have you made to the NCA in the past 24 months? 
  3. Have you had consent refused to proceed in the last 24 months following the submission of a Defence Against Money Laundering SAR to the National Crime Agency? If so, how many times
  1. How many PEPs have you acted for in the last 24 months?
  1.  Have your AML policies, controls, and procedures been audited in accordance with regulation 21 MLR 2017? If so please confirm if they were audited by an internal or external party and the name of the individual or company undertaking the audit?
  1. Since the implementation of MLR 2017 when was AML training first carried out
  2. When was training last carried out at the firm
  3. Do you keep copies of training material?
  1. Do you carry out file reviews to assess compliance with the MLR 2017?
  2. If yes, do you keep records of file reviews. If not, please explain why not
  3.  Please provide a list of the files reviews completed within the last 6 months
  • Do you have a separate policy on financial sanctions?
    • Yes
    • No
    • Covered within the AML Policy
    • Other, please explain
  • Do you have a sanctions risk assessment? 
    • Yes
    • No
    • Covered within the AML Firm wide risk assessment
    • Other. Please explain
  1. your firm’s AML risk assessment required under Regulation 18 MLR 2017
  • your firm’s proliferation financing risk assessment under Regulation 18A MLR 2017
  • your firm’s AML policies and procedures under Regulations 19 MLR 2017
  • your firm’s template client/matter AML risk assessment
  • copies of any audits on your firm’s policies and procedures carried out under Regulation 21 MLR 2017, to include any recommendations or follow-up action arising from them
  • AML-related training records and training material for the last three years
  • If applicable, your file review form template and a list of the file reviews carried out  within the last 6 months                                                                                   attached ☐
  • List of fee earners undertaking regulated work
  • If your case management system or processes allow, a list of any open matters you have identified as high risk.
Name:Name:
Signature  Signature
Role: MLCORole: MLRO
Date:Date:
 DeadlineActivity
1.Within 7 days  We will arrange a date for the inspection
2.14 days  Provide: a list of the fee earners at your firm   open and closed matter lists for your fee earners   your response to our questionnaire   your firm wide risk assessment   your firm’s proliferation financing risk assessment   your firm’s AML policies and procedures   your firm’s template client and matter risk assessment   copies of any audits on your firm’s policies and procedures   AML related training records and content   High risk matters list if applicable   File review template and list of file reviews completed in the last 6 months  
3.3-5 days before the inspection  We will provide a list of the files we wish to review on-site and confirm if fee earners have been selected for interview.  
   
 Approx Time  Activity  
 10.00am  Introductions and context  
 10.15am  Interview with the Money Laundering Compliance Officer (MLCO) and Money Laundering Reporting Officer (MLRO)  
 12.00am  Break for lunch  
 12.30pm  File reviews and review of SARs/DAML / opportunity to interview fee earners  
 2.40pm  Feedback to MLCO on files reviews and fee earner interviews. Thank you and close  

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