New-Build Conveyancing
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Developer Panels and AML: Should Conveyancing Firms Disclose Their Membership?
Transparency International UK has proposed annual disclosure of conveyancers’ developer-panel memberships, but this is not currently a reporting duty. Firms should identify and assess developer relationships, referral volumes, commercial dependence, overseas connections and associated AML risks. Management should reflect these factors in the firm-wide risk assessment, test controls on files, and consider whether independent auditing…