Letting agents need to meet new reporting obligations as part of the UK Financial Sanctions Regulations – with the new rules coming on 14 May.
Under the Financial Sanctions Regulations, certain businesses – referred to as ‘relevant firms’ are subject to reporting obligations – and from 14 May these rules are being extended to include letting agents.
Financial sanctions are measures implemented by the UK government designed to support national security and foreign policy objectives. They include asset freezes and restrictions on financial activities involving individuals or entities listed as designated persons (DPs).
Join our SWLA ‘Bitesize Webinar’ on 30 April for the full lowdown from Martyn Taylor, Ashley Taylors Legal. Email invites have been sent to all members.
See the following guides for further information;
- UK financial sanctions guidance – GOV.UK
- Money laundering supervision for letting agency businesses – GOV.UK
