Legal Articles

Circular 476226920: Compliance of Lawyers and Notaries with Financial Sanctions

Circular 476226920, lawyers, notaries, financial sanctions, compliance, Ministry of Justice, Saudi Arabia

The Ministry of Justice issued Circular No. 476226920 on 1447/05/20H to strengthen legal oversight in the law and notary profession and ensure compliance with targeted financial sanctions at both the national and international levels.

1. Content of the Circular

The circular includes several key points obligating lawyers and notaries as follows:

• Verify client identity and financial lists before providing legal or notarial services.
• Prohibit dealings with individuals or entities subject to financial sanctions.
• Immediately report any suspicious transactions to the competent authorities.
• Comply with sanctions and disciplinary procedures in case of violations.

2. Importance of Compliance

Compliance is a fundamental responsibility for lawyers and notaries, as it directly protects the legal profession from financial and legal risks, enhances trust with governmental and private entities, and opens avenues for international cooperation with offices that require high compliance standards.

3. Practical Steps for Compliance

• Adopt an internal checklist for clients and transactions to ensure no violation of financial sanctions.
• Provide periodic training for the legal team on international lists and financial sanctions.
• Implement written policies for stopping dealings and reporting when necessary.
• Use verification systems and technologies linked to official lists to continuously update transactions.

Conclusion

Circular 476226920 emphasizes that compliance with financial sanctions is an integral part of lawyers' and notaries' responsibilities. Practical adherence protects the profession, enhances confidence in legal transactions, and supports national and international compliance across all legal matters.