Renew your member firm membership
Renew your membership by paying your member firm fees and completing the member firm return via the member firm dashboard by 1 January 2019.
How to pay your fees and complete your firm return
All you need to do is:
Your login details have been sent to the key contact for the firm by email. If you do not have these please contact the Compliance department on firstname.lastname@example.org or telephone 020 3567 5999.
What the firm fee includes
Your member firm fee includes the costs incurred by the IFA in its AML supervisory function in accordance with the Money Laundering Regulations 2017 (MLR 20107).
Under the MLR 2017, the IFA is required to effectively monitor its members and member firms and take necessary measures to secure compliance with AML/CTF requirements.
These measures include:
- providing advice on the standards expected for compliance;
- providing education and training on compliance;
- monitoring and/or undertaking audit processes to measure compliance;
- investigation and disciplinary processes to deter non-compliance;
- having a framework to report and, reporting to other agencies, if appropriate.
Your member firm fee for 2019 has been calculated based on the number of Beneficial Owners, Officers and Managers (BOOMs) and the number of offices that you provided to the Institute when submitting your 2018 member firm return.
The member firm fee also includes free access for you and up to three staff members to AMLCC, an anti-money laundering product which assists accountants and tax advisers with their anti-money laundering compliance.
If you have two firms please contact the Compliance department on email@example.com or telephone 020 3567 5999 as we may not be supervising both firms and you may not be compliant with Money Laundering Regulations 2017.
Firm annual return
The firm annual return must be submitted by logging on to your firm dashboard on the IFA website using your firm member number and password.
Your firm’s annual return includes information on your firm’s details, structure and activities. Completing the firm return will enable the IFA to meet its regulatory and supervisory duties under the Money Laundering Regulations 2017 (MLR17) and ensures your firm is being appropriately supervised as required by the regulations.
It is important that you complete and submit the firm return as failure to do so could lead to regulatory and disciplinary action being taken against your firm. Please note that it is your responsibility to ensure that your firm’s return is submitted on time and that the information is complete and correct to the best of your knowledge and belief.
Further information on member firms, including benefits and obligations is available on the member firm page.
If you have any questions or need any assistance, please contact the compliance team on firstname.lastname@example.org or call 020 3567 5999.