In May the Commission consulted on a proposed AML/CFT framework for firms of legal professionals, accountants and estate agents when carrying out specified activities. Firms carrying out the specified activities are “prescribed businesses” for the purposes of the AML/CFT framework.
Following the consultation, the final version of the Criminal Justice (Proceeds of Crime) (Legal Professionals, Accountants and Estate Agents) (Bailiwick of Guernsey) Regulations, 2008 has been signed by the Policy Council. The Commission is also now formally issuing the Handbook for Legal Professionals, Accountants and Estate Agents on Countering Financial Crime and Terrorist Financing – the Handbook contains rules and guidance. The final versions of both the Regulations and the Handbook are available here.
In addition to the final versions of the Regulations and the Handbook, we have placed on this website another version of each of these documents. These include coloured text to show the areas of change to the consultation versions of the draft documents published in May and are available here.