Full Customer Due Diligence is important even for clients that you know very well!

AML stands for Anti-Money Laundering, which refers to a set of procedures, laws, and regulations designed to stop the practice of generating income through illegal actions. Essentially, AML rules prevent criminals from disguising illegally obtained funds as legitimate income. These laws cover a broad spectrum of financial crimes involving the laundering of money, including drug trafficking, fraud, and tax evasion, among others. The key components of AML efforts include: Custo

Yes, Anti-Money Laundering (AML) rules will apply if your firm is an Appointed Representative (AR) of a principal firm in the UK. Both the principal firm and the AR are expected to comply with AML regulations. Here’s how it generally works: Responsibility of the Principal Firm : The principal firm, which is fully authorised by the Financial Conduct Authority (FCA), takes on the responsibility for ensuring that its ARs comply with all relevant financial regulations, including