Regulation 10A

implement a group policy for preventing money laundering, proliferation financing and terrorism financing, and for managing and mitigating the risks of money laundering, proliferation financing and terrorism financing; and

extend the group policy to all of those branches and subsidiaries.

the development and implementation of the risk assessments and internal controls mentioned in regulation 10(1) and the compliance management arrangements mentioned in regulation 10(2);

subject to paragraph (3), measures to share information —

by the licensed estate agent’s branches and subsidiaries with the licensed estate agent;

by the licensed estate agent with the licensed estate agent’s branches and subsidiaries; and

among the licensed estate agent’s branches and subsidiaries,for the purpose of conducting customer or counterparty due diligence or managing the risks of money laundering, proliferation financing and terrorism financing.

must incorporate adequate safeguards, implemented by the licensed estate agent, to —

protect the confidentiality and use of any information that is shared; and

not tip off any person arising from the information that is shared (including to not share the information, where appropriate);

except where sub-paragraph (a)(ii) applies, must require the licensed estate agent’s branches and subsidiaries to share with the licensed estate agent, and the licensed estate agent to share with its branches and subsidiaries, the following information relating to the clients of the licensed estate agent or its branches and subsidiaries (as the case may be) and any unrepresented counterparty in respect of an acquisition or disposition by any of those clients:

where the client or unrepresented counterparty is or is acting on behalf of an individual — the information obtained from performing the customer due diligence measures mentioned in regulation 4 or the counterparty due diligence measures mentioned in regulation 12B, as the case may be;

where the client or unrepresented counterparty is or is acting on behalf of an entity or a legal arrangement — the information obtained from performing the customer due diligence measures mentioned in regulation 5 or the counterparty due diligence measures mentioned in regulation 12C, as the case may be;

where the licensed estate agent or any of its branches or subsidiaries has performed enhanced customer due diligence measures mentioned in regulation 6(3) or enhanced counterparty due diligence measures mentioned in regulation 12D(2) — the information obtained from performing those enhanced customer due diligence measures or enhanced counterparty due diligence measures, as the case may be;

any information relating to measures taken under regulation 11(1) or 12G(1);

any other information or analysis of any acquisition or disposition of property by the client or involving an unrepresented counterparty that appears unusual or is assessed to present a higher risk of money laundering, proliferation financing or terrorism financing; and

may only apply to the extent permitted by the law of the foreign country or territory that the licensed estate agent’s branch or subsidiary (as the case may be) is in.

the licensed estate agent must require the management of that branch or subsidiary to apply the more stringent of the laws, to the extent that the law of the foreign country or territory permits; and

where the management of that branch or subsidiary is unable to fully apply the more stringent law, the licensed estate agent must report this to the Council, and the licensed estate agent must, instead of sub-paragraph (a) —

perform such additional measures as are appropriate to manage the risk of money laundering, proliferation financing and terrorism financing; and

comply with such directions as may be given by the Council.