Private Client
Source of Funds: When the Money Raises Questions
February 16th 2027
Virtual Seminar
Source of Funds: When the Money Raises Questions
February 16th 2027
2 - 5pm
Speaker: Simon Harbord
Virtual Seminar
Regulators are placing increasing focus on source of funds and source of wealth, with recent reviews identifying weaknesses in the way firms investigate and evidence where money has come from. For solicitors, the difficulty is often knowing how far enquiries need to go when the information provided does not quite add up.
Gifts, overseas money, third-party funds, unexplained wealth and unusual transactions can all require further investigation. This seminar will look at the practical questions solicitors face when establishing source of funds and source of wealth, and what to do when concerns arise.
The seminar will consider:
Simon Harbord joined Teal in October 2020, having worked in the legal sector at a top 100 law firm since 2004. He was previously a Compliance Officer and MLRO in the financial services sector, and before moving into compliance roles worked in an advisory capacity as a financial planner and mortgage advisor.
Whilst his roles have encompassed a wide range of duties, such as ensuring compliance with the SRA Standards and Regulations, continuing Lexcel accreditation, and making practical improvements to processes and procedures, his passion has always been AML. From client on-boarding, auditing and the provision of training (including on behalf of the Law Society at regional MLRO meetings) to advising colleagues with respect to their AML and POCA obligations, dealing with Suspicious Activity Reports and liaising with law enforcement, Simon brings a wealth of experience in the field and a practical, down to earth approach to providing advice and guidance to our clients.
He has considerable experience in obtaining authorisations, managing supervision visits and regulatory investigations from the SRA and FCA, and dealing with Ombudsmen within the legal and financial services sectors.
