{"id":2230,"date":"2022-07-12T10:19:49","date_gmt":"2022-07-12T10:19:49","guid":{"rendered":"http:\/\/localhost:8080\/fiu\/?page_id=2230"},"modified":"2022-08-23T12:16:46","modified_gmt":"2022-08-23T12:16:46","slug":"law-firms","status":"publish","type":"page","link":"https:\/\/www.fiumauritius.org\/fiu\/?page_id=2230","title":{"rendered":"Law Firms"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2230\" class=\"elementor elementor-2230\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c1d3b5a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c1d3b5a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-464e6a6\" data-id=\"464e6a6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-df8c20b elementor-widget elementor-widget-spacer\" data-id=\"df8c20b\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d4cd3ec elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d4cd3ec\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f6cdfbe\" data-id=\"f6cdfbe\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f70190e elementor-widget elementor-widget-heading\" data-id=\"f70190e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Law Firms<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4273283 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4273283\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-fa0a5e2\" data-id=\"fa0a5e2\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0691026 elementor-nav-menu--dropdown-tablet elementor-nav-menu__text-align-aside elementor-nav-menu--toggle elementor-nav-menu--burger elementor-widget elementor-widget-nav-menu\" data-id=\"0691026\" data-element_type=\"widget\" data-settings=\"{&quot;layout&quot;:&quot;vertical&quot;,&quot;submenu_icon&quot;:{&quot;value&quot;:&quot;&lt;i class=\\&quot;\\&quot; aria-hidden=\\&quot;true\\&quot;&gt;&lt;\\\/i&gt;&quot;,&quot;library&quot;:&quot;&quot;},&quot;toggle&quot;:&quot;burger&quot;}\" data-widget_type=\"nav-menu.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<nav aria-label=\"Menu\" class=\"elementor-nav-menu--main elementor-nav-menu__container elementor-nav-menu--layout-vertical e--pointer-background e--animation-shutter-out-vertical\">\n\t\t\t\t<ul id=\"menu-1-0691026\" class=\"elementor-nav-menu sm-vertical\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2234\"><a href=\"https:\/\/www.fiumauritius.org\/fiu\/?page_id=2150\" class=\"menu-link elementor-item\">Register with FIU<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2970\"><a href=\"https:\/\/www.fiumauritius.org\/fiu\/?page_id=2966\" class=\"menu-link elementor-item\">AML\/CFT Obligations<\/a><\/li>\n<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-2235\"><a href=\"\/fiu\/?page_id=2496\" class=\"menu-link elementor-item\">File a Suspicious Transaction Report<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2965\"><a href=\"https:\/\/www.fiumauritius.org\/fiu\/?page_id=2539\" class=\"menu-link elementor-item\">Training &#038; Outreach<\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t<div class=\"elementor-menu-toggle\" role=\"button\" tabindex=\"0\" aria-label=\"Menu Toggle\" aria-expanded=\"false\">\n\t\t\t<i aria-hidden=\"true\" role=\"presentation\" class=\"elementor-menu-toggle__icon--open eicon-menu-bar\"><\/i><i aria-hidden=\"true\" role=\"presentation\" class=\"elementor-menu-toggle__icon--close eicon-close\"><\/i>\t\t<\/div>\n\t\t\t\t\t<nav class=\"elementor-nav-menu--dropdown elementor-nav-menu__container\" aria-hidden=\"true\">\n\t\t\t\t<ul id=\"menu-2-0691026\" class=\"elementor-nav-menu sm-vertical\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2234\"><a href=\"https:\/\/www.fiumauritius.org\/fiu\/?page_id=2150\" class=\"menu-link elementor-item\" tabindex=\"-1\">Register with FIU<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2970\"><a href=\"https:\/\/www.fiumauritius.org\/fiu\/?page_id=2966\" class=\"menu-link elementor-item\" tabindex=\"-1\">AML\/CFT Obligations<\/a><\/li>\n<li class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-2235\"><a href=\"\/fiu\/?page_id=2496\" class=\"menu-link elementor-item\" tabindex=\"-1\">File a Suspicious Transaction Report<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-2965\"><a href=\"https:\/\/www.fiumauritius.org\/fiu\/?page_id=2539\" class=\"menu-link elementor-item\" tabindex=\"-1\">Training &#038; Outreach<\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-997eda5\" data-id=\"997eda5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c5f1c9d elementor-widget elementor-widget-text-editor\" data-id=\"c5f1c9d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Pursuant to<b> Part I of the First Schedule<\/b> of the Financial Intelligence and Anti-Money Laundering Act 2002, the FIU has been designated as the AML\/CFT Regulator for Law Firms, Foreign Law Firms, Joint Law Ventures and Foreign Lawyers under the Law Practitioners Act.<\/p><p>In relation to prescribed activities set out under the FIAMLA, AML\/CFT obligations are applicable for a Law Firm, Foreign Law Firm, Joint Law Venture and Foreign Lawyer who prepares for, or carries out, transactions for his client concerning the following activities \u2013<\/p><ol><li style=\"list-style-type: none;\"><ol><li style=\"font-size: 16px;\">buying, selling or rental of real estate;<\/li><li style=\"font-size: 16px;\">managing of client money, securities or other assets;<\/li><li style=\"font-size: 16px;\">management of bank, savings or securities accounts;<\/li><li style=\"font-size: 16px;\">organisation of contributions for the creation, operation or management of legal persons such as a company, a foundation, a limited liability partnership or such other entity as may be prescribed;<\/li><li style=\"font-size: 16px;\">creating, operating or management of legal persons such as a company, a foundation, an association, a limited liability partnership or such other entity as may be prescribed, or legal arrangements, and buying and selling of business entities;\u00a0<\/li><li style=\"font-size: 16px;\">the business activities of virtual asset service providers and issuers of initial token offerings under the Virtual Asset and Initial Token Offering Services Act 2021; or<\/li><li style=\"font-size: 16px;\">any activity for a client as specified below:<\/li><\/ol><\/li><\/ol><p style=\"font-size: 16px; font-style: normal; font-weight: 400;\"><span style=\"font-size: 16px; font-style: normal; font-weight: 400;\">[&#8230;] who prepares, or carries out, transactions for a client concerning the following activities<\/span><\/p><ol><li style=\"list-style-type: none;\"><ul style=\"font-size: 16px; font-style: normal; font-weight: 400;\"><li style=\"font-size: 16px;\">acting as a formation agent of a legal person with a view to assisting another person to incorporate, register or set up, as the case may be, a company, a foundation, a limited liability partnership or such other entity as may be prescribed;<\/li><li style=\"font-size: 16px;\">acting, or causing another person to act, as a director, as a secretary, as a partner or in any other similar position, as the case may be, of a legal person such as a company, foundation, a limited liability partnership or such other entity as may be prescribed;<\/li><li style=\"font-size: 16px;\">providing a registered office, a business address or an accommodation, a correspondence or an administrative address for a legal person such as a company, a foundation, a limited liability partnership or such other entity as may be prescribed; or<\/li><li style=\"font-size: 16px;\">acting, or causing for another person to act, as a nominee shareholder for another person<\/li><\/ul><\/li><\/ol><p>As the AML\/CFT regulator for Law Firms, Foreign Law Firms, Joint Law Ventures and Foreign Lawyers under the Law Practitioners Act, the FIU is mandated to ensure compliance by such legal professionals with the FIAMLA, the UN Sanctions Act, and any regulations and guidelines issued under these Acts. The FIU is empowered to:<\/p><ul><li>request information or records from its members in the discharge of its functions,<\/li><li>conduct inspections (offsite and onsite),<\/li><li>require members to submit a report on corrective measures it is taking to ensure compliance with the relevant legislation<\/li><li>give directions to members falling under its purview; and<\/li><li>impose administrative sanctions under section 19N of the FIAMLA<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Law Firms Pursuant to Part I of the First Schedule of the Financial Intelligence and Anti-Money Laundering Act 2002, the FIU has been designated as the AML\/CFT Regulator for Law Firms, Foreign Law Firms, Joint Law Ventures and Foreign Lawyers under the Law Practitioners Act. In relation to prescribed activities set out under the FIAMLA, &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.fiumauritius.org\/fiu\/?page_id=2230\"> <span class=\"screen-reader-text\">Law Firms<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-2230","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/pages\/2230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2230"}],"version-history":[{"count":8,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/pages\/2230\/revisions"}],"predecessor-version":[{"id":3219,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/pages\/2230\/revisions\/3219"}],"wp:attachment":[{"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}