There
are two relevant time limits; The Legal Ombudsman will accept
complaints up to six years from the date of act/omission, or three years
from when the complainant should have known about the complaint.
However, this new limit will be introduced gradually so at the moment
the problem must have happened on or after 6 October 2010. Or, if the
problem happened earlier than that, the client must not have been aware
of it before 6 October 2010.
The UK government has dropped a regulatory bombshell that will fundamentally reshape your life, and yes, we are talking about the dreaded FCA AML audit. For years, you’ve been supervised by your legal peers, the SRA, but those days of relative comfort are drawing to a close. The big news? Responsibility for Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) supervision for the legal and accountancy sectors is being handed over to the Financial Conduct Authority (FCA. That's right, the same folks who put the fear of God into the big banks are now coming for your conveyancing files. Cue the dramatic music. What does the FCA take-over actually mean? Forget the gentle nudge; prepare for the financial services full-body search. An FCA AML audit is likely to look a lot more like a detailed financial inspection and a lot less like a polite chat with the SRA. Think maximum emphasison: Ironclad AML documentation (no more "it's in my head" polici...
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