At Le Gallais & Luce we are legally required to ensure that any funds received from a client or on a behalf of a client are from credible sources. To assist you, we have put together some examples of documents that we may accept in order to confirm your source of funds and source of wealth.

 “Source of funds” is the activity, which generates the funds for a relationship e.g. a client’s occupation or business activities. Information concerning the geographical sphere of the activities may also be relevant. *

Source of wealth” is distinct from source of funds, and describes the activities, which have generated the total net worth of a person both within and outside of a relationship, i.e. those activities that have generated a client’s funds and property. Information concerning the geographical sphere of the activities that have generated a client’s wealth may also be relevant. **

*  ** JFSC AML/CFT Handbook for the Legal Sector Part I Section 3 – Identification Measures: Overview

In order to complete our due diligence requirements you will be asked to provide evidence of your source of funds and/or source of wealth. Please have this information and documentary evidence of the same to hand as any delay in providing such documentation may result in Le Gallais & Luce being unable to complete the required transaction or the withdrawal of all our legal services.

Depending on the circumstances of your transaction, we may ask for one or more of the below:

1. Information on your Occupation and Income (i.e. wages, bonus)

2. Savings

3. Property Sale

4. Sale of Investments

5. Inheritance

6. Company Sale/Dividend

7. Divorce Settlement

8. Lottery/Gambling win

9. Gifts

Suitable certifiers

Should it be of assistance, certification of the original documents can be undertaken by one of the Le Gallais & Luce staff members. Otherwise, please note that certified copies must be signed by a suitable certifier. Acceptable persons to certify document may include any of the following, who must state their full name and capacity in which they are signing (self-certification or certification by a family member or close relation is not acceptable):

a) a member of the judiciary, a senior civil servant, or a serving police or customs officer;

b) an officer of an embassy, consulate or high commission of the country of issue of documentary evidence of identity;

c) an accountant, doctor, practicing lawyer or notary public who is a member of a recognised professional body; and

d) a director, officer or manager of a regulated financial services business which is operating in a well-regulated jurisdiction.

Please also note that for certification to be effective, a person will need to personally present an original document to an acceptable suitable certifier and that certifier will need to be subject to professional rules (or equivalent) providing for the integrity of the certifier’s conduct.

Suitable wording of the certification

Should the certification be done externally, please note that the person carrying out the certification must state:

Certifiers need to provide their details, sign and date the certification documents.

Should you have any difficulty in obtaining the above documentation in order to support source of funds and source wealth for a particular transaction, then please contact us to discuss.

Le Gallais & Luce is a Member Firm of The Law Society of Jersey and is registered with the Jersey Office of the Information Commissioner in their capacity as the Data Protection Authority.  The Firm obtains client personal information in the course of the Client Due Diligence process and satisfactory completion of our take-on procedures.  The personal information held is restricted to that required for Anti-Money Laundering/Counter-Terrorist Financing purposes.

More information can be found on our website under Privacy Policy and Data Protection FAQs.