Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

46 A legal counsel or legal firm that, in connection with a transaction, receives funds from the trust account of a legal firm or from the trust account of a legal counsel who is not acting on behalf of their employer,

• (a) must keep and retain a record of that fact; and

• (b) is not required to include in the receipt of funds record that is kept in respect of those funds

  • (i) the number and type of any account that is affected by the transaction, or

  • (ii) the full name of the person or entity that is the holder of that account.