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FAQs: Economic Crime (Transparency and Enforcement) Act 2022
This Act is part of a series of proposed powers to combat illicit finance and reduce economic crime. While the Act is necessary to impose sanctions as part of a wider set of actions the UK has taken against Russia, measures set out in the Act aim to tackle economic crime from all overseas entities.
Fact sheet: Ivory Act 2018
The purpose of the Ivory Act is to prohibit commercial activities concerning ivory in the UK and the import and re-export of ivory for commercial purposes to and from the UK. This includes intra-EU trade to and from the UK.
How estate agents can utilise auctions
Agents have a range of options available to them for selling a property. Choosing the right one can have a huge impact on the price achieved, the satisfaction of buyers and sellers with the process, and the reputation of the agent.
Client identity verification
The Economic Crime (Transparency and Enforcement) Act will create a register upon which all foreign owners of UK property must declare their true beneficial ownership and verify their identity with Companies House. Those who do not declare their beneficial owner will be subject to restrictions on the sale of property and may face up to five years in prison.