A “compliance partner” is a partner nominated by the firm, in writing to the Law Society, as the partner responsible for completing and signing (on behalf of all partners) the Form of Acknowledgement for each reporting accountant’s report for the firm that is submitted to the Law Society pursuant to the Solicitors Accounts Regulations 2014 “whether or not such partner has also been so nominated as the anti-money laundering compliance partner”.
An “anti-money laundering compliance partner” is a partner nominated by the firm, in writing to the Law Society, as the partner responsible for ensuring that the requirements of the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 and 2013 (as amended) are complied with in relation to the firm, “whether or not such partner has also been so nominated as the compliance partner”.
For the purposes of the new Regulations, ‘anti-money laundering compliance officer’ will mean “each and every partner in such solicitors practice” if you omit to comply with the obligation to provide written notification of nomination to the Law Society..
The Law Society CPD Scheme is reviewed periodically by the Education Committee, and may be amended from time to time, so at any particular time the latest version of the Scheme is available to download from the CPD Scheme section in the members’ area of the Law Society’s website (www.lawsociety.ie). The Law Society’s CPD Booklet is on their website, and can also be accessed here.