A solicitor has submitted a suspicious activity report about a client. The client asks if there is any reason the transaction is delayed. What must the solicitor avoid?
Answer and explanation
Correct answer: A. Tipping off, by disclosing that a report has been made if that is likely to prejudice an investigation
- Step 1: Section 333A of the Proceeds of Crime Act 2002 creates the tipping-off offence in the regulated sector.
- Step 2: The solicitor should explain the delay without revealing the report.
Answer
Tipping off, by disclosing that a report has been made if that is likely to prejudice an investigation.
Why not the others: Some explanation may be possible without breaching the rule; future work is not barred; records must be kept.
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