The Law Society of Northern Ireland (the Society) is responsible for regulating professional standards and the propriety of solicitors professional conduct in general, in order to maintain the independence, ethical standards, professional competence and quality of services offered to the public.
The Society's overriding principle in exercising its regulatory function is to regulate in the public interest, with the aim of protecting the public.
The Law Society of Northern Ireland is the professional body supervisor under the Money Laundering, Terrorist Financing, Transfer of Funds (Information on the Payer) Regulations 2017 (Amended) (the MLRs) for the solicitorsâ branch of the legal profession in this jurisdiction and exercises other co-regulatory functions, with a remit across approximately 450 Firms in Northern Ireland.
This is the Societyâs second annual report as part of its responsibility as an AML supervisor and its duty to report information to the Office for Professional Body Anti-Money Laundering Supervision under Regulation 46A of the MLRs.
For this purpose, the Society is reporting on the period 6 April 2021 to 5 April 2022 ("the reporting period").
