The Regulations
Where can I find the new Regulations?
You must read the Money Laundering Regulations 2007 before reading or referring to the guidance. The guidance does not stand-alone and is not a substitute for the Regulations.
New Rules
The Solicitors (Scotland) Accounts etc Rules 2001 have been amended as follows:
Rule 2, interpretation, replacing reference to the 2003 Regulations with the 2007 Regulations.
Rule 24, amending the wording to apply the provisions of the 2007 Regulations to all business carried out by a Scottish solicitor, in appropriate terms.
More information on the application of the Regulations to solicitors in Scotland can be found on the Financial Compliance Department's Money Laundering & Fraud page.
Other legislation
All firms should be aware that, in addition to the Money Laundering Regulations, the requirements of the Terrorism Act 2000 and the Proceeds of Crime Act 2002 must also be taken into account. The guidance includes reference to both of these Acts.
