HM Treasury has given anyone who is holding frozen assets until 11 October to submit a report to the Office of Financial Sanctions Implementation (OFSI). The Solicitors Regulation Authority (SRA) this week urged solicitors to check the latest HM Treasury Consolidated List of asset freeze targets to make sure they are not holding monies belonging to a client that is subject to financial sanctions.
Juliet Oliver, SRA General Counsel, said: ‘Solicitors are rightly being asked to make sure they are not helping anyone with dubious funding streams.
‘This risk exists for every single solicitor and law firm, whether conveyancing on the high street or handling global transactions. We would urge all of you to look at the review and, if a client is listed and you hold any of their assets, make a report as necessary.’
.tmb-mov69x69.jpg?sfvrsn=e3c4b2f1_1)
