The SRA has emphasised that compliance with the Sanctions regime applies to all businesses, irrespective of whether they fall within AML scope. They have issued fresh guidance about this.
Here is the link:
https://www.sra.org.uk/solicitors/guidance/sanctions-regime-firm-wide-risk-assessments/
At last year's COLP & COFA Conference the SRA gave notice that they would be starting to carry out compliance audits for Sanctions regime compliance. We expect them to follow a similar format to those for AML compliance (with which we help on a regular basis).
Feel free to contact is for sanction compliance training, drafting or reviewing policies & procedures, our AML & Sanctions Manual of anything else linked with Sanctions compliance.
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