Anti-Money Laundering and Counter Terrorist Financing (2024)
We are responsible for the supervision of barristers and BSB entities under the Money Laundering Regulations. Regulation 46 requires us to publish an annual report containing information about supervision activity undertaken to encourage the reporting of actual or potential breaches of the Regulations and measures carried out to monitor, and enforce, compliance by barristers and BSB entities with their obligations. For historic reports, dating to 2020-21, please visit our archive.
Thematic Review: Financial Sanctions at the Bar (2023)
We published a thematic review of sanctions compliance focused on 31 chambers that are members of the Commercial Bar Association. Generally, we found that barristers were aware of the risks of unwittingly engaging with a designated person without a licence and that they were taking a cautious approach to compliance. We also found examples of good practice which we would encourage all barristers and their chambers or entity staff to consider regardless of their area of practice.
