Carey Olsen LLP in London
As part of a review of the operating model of our business, we have concluded that it is now no longer appropriate for our London office, Carey Olsen LLP, to be regulated by the Solicitors Regulation Authority (SRA), the regulatory body for solicitors and firms in England and Wales. We do not provide English law advice and we do not undertake any of the activities that as a matter of English law are reserved to English solicitors.
This move brings us into line with similar firms in the UK who perform similar services to us, but that are not regulated by the SRA.
Our decision has been fully discussed with the SRA and they gave their agreement to our ceasing to be regulated by them with effect from 17 October 2018.
Carey Olsen LLP will be regulated by Her Majesty's Revenue and Customs for the purposes of anti-money laundering and countering the financing of terrorism in England, and the services that we provide will continue to be subject to supervision by the relevant professional bodies in our core jurisdictions.
Carey Olsen LLP will continue to hold appropriate professional indemnity insurance and, as a result of the regulatory requirements in our core jurisdictions, the way in which we operate our client account will not change. There will also be no changes to the way in which our services are delivered.
Should you have any queries arising out of this please do not hesitate to contact Peter Atkinson, our London-based Money Laundering Reporting Officer, or your usual Carey Olsen contact.