Price Transparency Briefing Note
Note 3 deals with the new practice rules on price and service transparency which come into force on 2 December.
If you are thinking about qualifying as a Notary Public and what to find out more about the course, University College London (UCL) are holding a Notarial Practice Course Open Day on Saturday 30th November 2019 between 10.45am and 4.15pm at the UCL Faculty of Laws.
The cost of the day is £60 which includes lunch. To find out more and register please visit https://notarial-practice-open-day-2019.eventbrite.co.uk or contact Lisa Penfold by email firstname.lastname@example.org
Note 2 is on Anti-money Laundering.
We are launching a series of Guidance Notes on the Code of Practice offering guidance on notarial practice based on the feedback from the Notary Inspections. Note 1 (link below) is on record keeping and file storage.
Whistle Blowing Policy
The Faculty Office has updated and published its whistle blowing policy which may be viewed here: Whistle Blowing Policy.
Anti-Money Laundering Guidance for the Legal Sector
The AML Legal Supervisors have agreed Legal Sector Anti-Money Laundering Guidance: Approved AML Guidance taking account of the changes introduced by the Money Laundering Regulations 2017 (http://www.legislation.gov.uk/uksi/2017/692/made) which came into force on 26 June 2017. The revised guidance has now received formal approval by HM Treasury following some minor changes to the draft which was published in September 2017.
CMA legal services market study – Consultation period extended
The Faculty Office is encouraged by the response to the Master of the Faculties consultation on the proposals contained in his action plan to deliver greater transparency for consumers. However, following a request from key stakeholders, we have decided to extend the consultation period for a further two weeks until close of business on Thursday 14 December 2017. The Consultation Document may be viewed here:Master of the Faculties CMA Consultation
CMA legal services market study – Consultation
The Master of the Faculties, in common with the other frontline regulators in the legal sector, has launched a consultation on the proposals contained in his action plan to deliver greater transparency for consumers. This represents the next key stage in the implementation of the recommendations in the Competition and Markets Authority’s (CMA) legal services market study report. The Consultation Document may be viewed here:Master of the Faculties CMA Consultation
This consultation sets out the Master of the Faculties approach to delivering the CMA recommendations. We welcome responses from members of our regulated community and other stakeholders including consumers of legal services, consumer organisations and any other interested parties.
The Consultation will close at 5pm on Thursday 30th November 2017
The annual Practising Certificate Renewal forms have been posted out to all notaries. In addition to the renewal form, your completed application form will also require a CPE training record: CPE Training Record; and a completed Diversity Questionnaire: Diversity Questionnaire. Please accept our apologies if either of these documents were omitted from your renewal pack.
Competition and Markets Authority’s legal services market study.
The Master of the Faculties, in common with the other frontline regulators in the legal sector, has today published his action plan to deliver greater transparency for consumers. This represents a key stage in the implementation of the recommendations in the CMA’s legal services market study report. The action plan may be viewed here:Master of the Faculties CMA Action Plan
The Faculty Office continues to collaborate with the other regulators via the Remedies Programme Implementation Group in order to maintain progress on this important issue.
The Legal Services Board will, in keeping with the CMA recommendations directed to it, assess all the action plans over the summer and continue to monitor progress on these reforms.