Requirements for this industry mainly revolves around risks associated with trust or company services offered by licensees. These service are as listed below:

  1. Forming corporations or other legal persons;
  2. Acting, or arranging for another person to act –
    • as a director or a secretary of a corporation;
    • as a partner of a partnership; or
    • in a similar position position in relation to other legal persons;
  3. Providing a registered office, business address, correspondence or administrative address for a corporation, a partnership or any other legal person or legal arrangement;
  4. Acting, or arranging for another person to act
    • as a trustee of a trust or a similar legal arrangement; or
    • as a nominee shareholder for a person other than a corporation whose securities are listed on a recognized stock market;

Given that the scope of services offered, existing client profiles, and risks associated with targeted market segments can vary from one licensee to another, AML policies and procedures should be designed to take into account these factors specifically relevant to the business entity being regulated.

How AML Assuracomp
can Assist?

Assuracomp is able to provide advice and deliverables suitable for the law firm’s line of work while taking into account the full context of how these service channels are carried and risk associated with them. This results in policies, procedures, and processes that properly manages risks relevant to the regulated enterprise itself. Furthermore, allows for greater level of flexibility whenever appropriate and higher levels of end client acceptance for the firm’s AML measures. Ultimately, a better utilization of resources, time, and effort in achieving compliance with laws and guidelines.

More Details on Our Services?

As services facilitating with regulatory compliance and the improvement of business operational efficiencies can be highly modular and tailored made to each circumstance, we welcome any queries you may have on how we can help with the challenges you are encountering. Please click the below “Get In Touch” button or reach out to us using the contact details available at the bottom of this page.