Client Authority to Transfer

To ensure that all money movements run smoothly we require written confirmation of the transaction from you and your client separately (in rare cases where a member of the firm is the client, then they can only give this authority providing they are not acting on the matter or with the written consent of the Director of Operations and Compliance). Lawyer consent and client consent takes a different route and so makes it harder for any fraudster to intercept and change a money movement instruction without being discovered. We take client authority for a money movement in the form of a ("CAT").

We have a dedicated CAT document assembly tool to speed up this process. You should create the CAT and send it out for client signature in good time as funds cannot be sent without the Cashier holding a signed version of the CAT. When completing the CAT you should speak to a person you know is authorised by the client to provide the client's bank details. It is usually a good idea for the CAT to be sent out with the transactional documents so that all are signed at once. The CAT benefits from our integrated electronic signature facility, so where you have a client who is happy to use this, then this can save a lot of time. If the sums to be sent are not known, you can set a maximum amount rather than an exact sum. Unless you are using electronic execution and where the CAT runs over one page or attaches a schedule, then every page must be signed.

From time to time our client will in fact comprise multiple parties (e.g. purchasing a house for husband and wife or acting for a group of shareholders). The general rule is that where sums are held in our Client Account for multiple clients, then each of them must sign the CAT. There are the following exceptions:

• Where no CAT is required (pursuant to one of the exceptions below).
• Where funds are being used jointly (e.g. being sent to their joint account or being used to purchase an asset in their joint names).
• Where one or more individuals have delegated authority to sign on behalf of the joint clients. Authority can be delegated by way of a power of attorney, in the Engagement Letter (and our templates include optional language to do this) or otherwise expressly in writing signed by all the clients. The Cashier will need to see any authorising documents so copies should be appended to the money movement requests. (Note that where a power of attorney is being used, it must be governed by English law and you must be satisfied that the donor of the power has adequate authority and has complied with all necessary procedural steps, in some cases we may require a legal opinion).

The signed CAT should either be sent by post or email to the Cashier or should be uploaded as part of the Pay From Client Account process.

If you are aware in advance that obtaining a signed CAT will be a challenge, consider getting the client to authorise you to sign the CAT on its behalf under a limited power of attorney (if so, it must be governed by English law and you must be satisfied that the donor of the power has adequate authority and has complied with all necessary procedural steps, in some cases we may require a legal opinion).

If the matter is high risk, then you should expect a call from the Compliance Team and allow extra time for the money movement to be investigated and approved.