One of our client law firms has forwarded the email they received yesterday from the SRA giving them notice that the SRA will be asking them to answer specific questions about how they comply with the UK Sanctions Regime. They have provided a list of the questions they will ask. It is mandatory that the firm replies. A link to the questions is below. We have also put a copy of the email below.
You will read that the email with the questions will be sent out in early May and the answers have to be submitted by 31st May 2023. This looks very similar to what the SRA did in relation to AML compliance. In that case they referred back to the answers when later doing audits on the AML within firms (we are helping a number of firms to deal with such AML audits). It would not be a surprise if the SRA follow a similar pattern with regard to Sanctions compliance enforcement.
The Email from the SRA
(In order to get this up quickly we have had to put this up as links to the 2 pages of the email, which see below. Apologies for the slight inconvenience.)
https://www.hunningsconsultancy.co.uk/wp-content/uploads/2023/04/SRA-Sanctions-email-page-1.png
https://www.hunningsconsultancy.co.uk/wp-content/uploads/2023/04/SRA-Sanctions-email-page-2.png
Link to the questions
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