On 15th March 2022, the Economic Crime (Transparency and Enforcement) Act 2022 (the “Act”) received Royal Assent. According to the Government, the Act aims to tackle economic crime by...Find out more
Druces LLP is a limited liability partnership incorporated in England and Wales with registered number: OC332179, authorised and regulated by the Solicitors Regulation Authority (SRA number 487134). A list of members is open for inspection at the registered office. Druces LLP is a member of the international network, Alliance of Business Lawyers. Our VAT number is GB243 4391 71.
The material contained in the Druces’ website is provided for general purposes only and does not constitute legal or other professional advice. Nothing on this website constitutes a binding offer to perform any legal service in any jurisdiction. Although we endeavour to ensure that the content of this website is accurate and up to date, users should seek appropriate legal advice before taking or refraining from any action. With respect to the information available on this website, Druces expressly excludes any representation or warranty (express or implied) to the fullest extent possible. Druces makes no representations about the materials in this website or any website linked to it and does not accept any liability for any loss that may arise from reliance on any such information. Any legal action or proceedings arising between you and Druces in relation to this website shall be governed by English law and you submit to the exclusive jurisdiction of the English courts.
You may not link to this website without the express permission of Druces LLP.
The Financial Services & Markets Act 2000
We are not authorised by the Financial Conduct Authority. However, we are included on the register maintained by the Financial Conduct Authority so that we can carry on insurance distribution activity, which is broadly the advising on, selling and administration of insurance contracts. This part of our business, including arrangements for complaints or redress if something goes wrong, is regulated by the Solicitors Regulation Authority. The register can be accessed via the Financial Conduct Authority website at www.fca.org.uk/firms/financial-services-register
Sometimes our work involves regulated activities under the Financial Services and Markets Act 2000. As we are not authorised under that Act or by the Financial Conduct Authority we may have to refer you to someone who is authorised to provide any necessary advice.
However, as we are members of the Law Society (which is a designated professional body), and regulated by the Solicitors Regulation Authority, we can provide certain limited services in relation to regulated activities, provided they are closely linked to the legal services we are providing to you. Any such service is regulated by the Solicitors Regulation Authority.
(a) If you have a concern about any aspect of our service it should be raised immediately with the partner dealing with your matter or in writing to our Complaints Partner.
(b) We have a written procedure in place which details how we handle formal complaints, which is available on request. If for any reason you are not satisfied with our handling of your complaint you can ask the Legal Ombudsman to consider the issue by writing to The Legal Ombudsman, P O Box 6806, Wolverhampton, WV1 9WJ; or by email to firstname.lastname@example.org; or by telephoning 0300 555 0333. The Legal Ombudsman may refer your complaint to the Solicitors Regulation Authority if it is not the correct body to conduct the investigation, for example, if you are a business or if your complaint falls outside the type of complaint dealt with by it. For more information, please visit http://www.legalombudsman.org.uk/. Please note that if you apply to the Court for an assessment of our costs under the Solicitors’ Act 1974, you will not also be entitled to make a complaint to the Legal Ombudsman.
(c) Any complaint will be investigated further if necessary and remedied promptly, if possible. You have the right to take independent advice from another solicitor in any case where you have, or may have, a complaint against us.
Money Laundering Regulations 2017
It will almost always be necessary for us to carry out due diligence on clients before we can act for them. We will speak to you with regard to due diligence before we start any work. We will not be able to receive any funds from, or pay any funds to, you or on your behalf unless this due diligence has been carried out. In the light of the Regulations and for insurance reasons we do not normally accept cash payments from or on behalf of clients and then only in special circumstances and for limited amounts. We may use electronic identification and/or credit reference service providers in carrying out due diligence.
Regulation 40 of the Money Laundering Regulations 2017 requires us to keep due diligence and the records of any transaction in respect of which due diligence is required for a period of five years from the date the transaction is complete or our business relationship with you has come to an end. By instructing us you will be consenting to us retaining personal data indefinitely.
Regulation 41 of the Money Laundering Regulations 2017 requires us to provide new clients with the information specified in paragraph 2(3) in Part II of Schedule 1 to the Data Protection Act 1998 and a statement as to the uses to which your personal data may be put, with your consent. That information can be found in the section on Data Protection below.
Proceeds of Crime Act 2002 and Terrorism Act 2000
We are prohibited by this legislation from acting for or advising a client in relation to terrorist financing, or the acquisition, retention, use or control of the proceeds of any crime or any attempt to conceal, disguise, convert or transfer any criminal property or to remove it from the jurisdiction, or from being involved in arrangements relating to such activities. The proceeds of crime and criminal property are widely defined for these purposes to include any activity (including tax evasion) carried on anywhere which would be illegal if carried on in the UK.
We have a legal obligation to report to the National Crime Agency any person, including a client, suspected of involvement in activity covered by this legislation. As a result we reserve the right to make all disclosures to relevant authorities as required by law, without notice to you, and if appropriate to cease acting for you without giving any specific reason.
These obligations override our normal duty of confidentiality to you. We will not accept any liability for any loss or damage that you or any third party may suffer or incur on any account for any action taken, or not taken, by us in good faith with a view to complying with this or any related legislation.
We may also require confirmation from you of the source of any funds, in particular any remitted from overseas, and whether all necessary tax has been paid and all necessary returns made in relation to any overseas funds. We reserve the right to require further information and supporting documentation as appropriate.
In order to minimise the risk of disruption to the completion of any transaction which we are to complete on your behalf, which involves the provision to us of funds by you, we ask that you let us have cleared funds no later than seven working days before the date set for completion. If this is not possible in any case please discuss the position with us as soon as possible.