When most of the property industry was escaping for the Christmas break, Parliament passed new legislation to bring the fifth European Money Laundering Directive into law.This means that from this morning onwards, agents must comply with the upgraded Anti Money Laundering (AML) legislation, which was introduced by amending the Money Laundering Regulations 2017 and the Proceeds of Crime Act 2002.These have changed AML in two key ways. Agents renting out residential or commercial properties for more than €10,000 or (currently) £8,500 a month are brought into its scope for the first time.Letting agents will need to ensure that due diligence has been carried out on the landlord, tenant, guarantor or authorised occupier.Also, agents must now confirm not only the identity of their client, ensuring they are not a politically exposed person, but also their client’s ownership of the property.The new AML laws also covers rental deposits which Jerry Walters (left), Managing Director of AML compliance consultancy Financial Crime Services says agents must use robust due diligence checks to “establish the authenticity of deposits, prior to accepting them”, he says.“In addition, the new directive states that lettings agents must have comprehensive AML written policies and procedures in place, that they agree to undertake a firm-wide Risk Assessment and ensure that all staff have recognised AML training.”David Cox, Chief Executive of ARLA Propertymark, says: “Despite the HMRC’s online register not being operational until May 2020, letting agents will need to comply with the regulations from 10th January 2020 and if they’re found to be non-compliant with the regulation’s agents may face civil penalties or criminal prosecution.“However, irrespective of whether agents fall under the definition of regulated businesses with HMRC for AML supervision, Propertymark recommends it’s best practice for all letting agents to carry out Customer Due Diligence (CDD) on all their customers.”Electronic verification Another change ushered in by the new AML regulations is that HMRC now officially sanctions estate agents using electronic identity verification methods in addition to traditional document eye-balling. “The Government – and the EU – are right to want to see more use of electronic verification. It’s been shown to be more reliable, quicker and more cost effective than manual checks,” says Martin Cheek, Managing Director of AML specialist SmartSearch.Read more about AML.Anti Money Laundering directive Jerry Walters AML compliance January 10, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Are you ready? New Anti Money Laundering rules go live TODAY! previous nextRegulation & LawAre you ready? New Anti Money Laundering rules go live TODAY!Extra AML responsibilities for letting agencies become law today after being passed by Parliament just before Xmas.Nigel Lewis10th January 202004,284 Views
In a lecture Monday morning in DeBartolo Hall, South Bend Mayor Pete Buttigieg spoke to Notre Dame engineering students about how engineers can help to move the city forward. Buttigieg said a big part of his job centers around bringing South Bend back from its long-dead industrial roots. “I’m the mayor, the mayor of my hometown. I grew up here in South Bend,” Buttigieg said. “What’s great about this job is that you have the ability to shape this community [in many ways], including physically. And engineering is a big part of that.” Although Notre Dame is a major focal point of the city today, Buttigieg said South Bend’s history does not revolve around the University.”South Bend didn’t grow up from education. It grew up from industry, … so it had this industrial phase when the Big Three was actually the Big Four, and the fourth was Studebaker,” he said. “Studebaker closed its doors exactly 50 years ago, actually, exactly this week, [in] 1963, … and what has followed wasn’t exactly post-industrial but what was actually an economically post-traumatic phase. “The week that I entered my mayoral race, actually, there was a headline about South Bend being one of America’s dying cities.” Buttigieg said he is bringing the city back from that phase by utilizing modern technology and using ingenuity to repurpose many of the resources South Bend already has. “The strategy for making South Bend able to find its own way and move forward mostly has to do with a principle expressed in a lot of different ways. That principle is that you take what you have and reimagine its value in a new way,” he said. “For example, this was Ignition Park. It used to be acres and acres of crumbling Studebaker factory infrastructure, … but what we found that had the most demand for that area was an industry that didn’t exist when I was born, and that’s DataAanalytics andDdata support.” South Bend’s cold weather and abundance of railways that could be repurposed to fit fiber optics make it a great location for the data analytics and data support industry, Buttigieg said. “As we ask ourselves this question, “What kind of city is South Bend going to be in the next 50 years?” we mark our 150th anniversary this year,” Buttigieg said. “It boils down to a handful of priorities we have to address. One of them is safety, … another is what the economy in downtown looks like,,… and lastly, making sure our government is more efficient, more modern.” After his talk, Buttigiegg answered questions about internship and service opportunities for prospective engineers in his office or for the city of South Bend. Buttigieg told The Observer after the talk that his ultimate vision for South Bend is broad in scope. “The goal we’re driving toward is a city that feels more like a city, a city that has a reputation of being one of America’s greatest university towns, and a city with the benefits of a larger city [and] the benefits of a smaller town,” he said. Contact Alex Cao at [email protected]
By David StooksburyUniversity of GeorgiaThanks to generous rains, Lake Lanier and Lake Hartwell basins have improved to mild drought. The basins were previously in moderate drought. The mild drought classification is based on the still low levels of the lakes. The remainder of the state, however, is drought-free. Soil moisture conditions are above normal for the entire state except the north-central and northeast mountain counties. Soil moisture in these regions is near normal for early May. These counties include the drainage basins for Lanier and Hartwell.Stream flows are near normal for early May except for northwest Georgia, where stream flows are well above normal.May is typically one of the drier months in Georgia. Additionally, with high temperatures routinely in the 80s and plant water use very high, moisture loss is accelerated. We normally expect the soils to start to dry out this month. As we progress through the summer into the middle of fall, moisture loss from the soil – due to evaporation and plant use – is normally greater than rainfall. With normal weather over the next several months, Georgians can expect to see a drying of the soils. However, this is normal and does not mean that Georgia is heading back into a drought. Additional weather and climate information can be found at www.georgiaweather.net and www.georgiadrought.org. Agricultural climatology information can be found at www.agroclimate.org. Coastal climate information can be found at www.coastalclimate.org. Daily rainfall data is at www.cocorahs.org. U.S. Geological Survey data is at ga.water.usgs.gov. Water conservation information is available at www.conservewatergeorgia.net.
FacebookTwitterLinkedInEmailPrint分享ET Energy World:The government is considering a plan to establish battery making capacity of 40 gigawatts (GW) to give a boost to its electrical vehicles and renewable energy initiatives, an official said. It will ask states to compete for the opportunity to set up internationally competitive facilities that will also service global markets. Domestic and global battery makers will be asked to bid for setting up plants in the selected states.The proposal is expected to entail investments of $40 billion in the next two-three years and is likely to garner interest from global battery manufacturing firms and renewable energy players such as SoftBank, Tesla and Panasonic, a government official said.The Centre is working on fiscal and non-fiscal measures to enable states to set up manufacturing units as competitive as those in China. Bids will be judged on the basis of land, incentives, power tariff discounts and regulatory and industrial support. Plants have to be competitive so that exports are commercially viable.The large-scale battery manufacturing proposal is aimed at making storage systems competitive in India so electric vehicle adoption becomes more viable. Batteries and battery cells are imported from the likes of China and the US. With plans to add 175 GW renewable energy generation capacity by 2022 and ensure that 30% of India’s vehicles are electrically powered by 2030, the demand for battery storage is pegged at 300 GW.“The Centre is exploring opportunities on how to make battery manufacturing at giga-scale happen quickly and in the shortest possible time because that is the crux of the entire growth, be it electric vehicles or new and renewable energy sources,” the government official said.“The industry needs to have confidence to come forward, as there is huge requirement of battery storage,” said another official. “Even for just the FAME-II targets of e-vehicles, we will require 70 GW batteries in the next three years. A company that starts making them here can become a global leader rather than looking up to countries such as Vietnam, Korea or China.” The official urged India to first make batteries before moving on to cells.More: Centre to invite bids for 40GW battery plants India looking at $40 billion investment to boost battery manufacturing capacity
Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A 47-year-old man was fatally struck by a delivery truck in Selden on Thursday night.Suffolk County police said Carl Lunsford was hit by a southbound Ford FedEx delivery truck on Magnolia Drive shortly before 7 p.m.The victim was pronounced dead at the scene. The driver, 27-year-old Laurence Broggy, was not injured.Motor Carrier Safety Section officers inspected the truck, which was not impounded.Sixth Squad detectives are continuing the investigation and ask anyone with information on this crash to call them at 631-854-8652 or anonymously to Crime Stoppers at 1-800-220-TIPS.
continue reading » Judge Timothy Kelly heard arguments on Friday, Dec. 22 for a preliminary injunction request from Leandra English challenging President Trump’s appointment of Mick Mulvaney to serve as interim director of the Consumer Financial Protection Bureau (CFPB). CUNA is participating as an amici in this litigation.During the hearing, the Department of Justice (DoJ) argued that the Federal Vacancies Reform Act (FVRA), which explicitly to vacancies and resignations is the traditional statutory authority for addressing Executive Branch vacancies, and contains limited exceptions expressly articulated in the statute itself (none of which apply to the CFPB). It also argued that Section 5491 of the Dodd-Frank Act does not clearly apply to a vacancy and does not include a clear statement displacing the FVRA’s preexisting procedures. During the hearing in addition to counsel for DoJ, the CFPB’s General Counsel sat on the Defendants side. Previously, the CFPB general counsel issued a memo siding with the DoJ.Plaintiff’s counsel, Deepak Guptam argued that the Dodd-Frank Act provides a mandatory succession plan for CFPB leadership that should displace the FVRA. In terms of standing, Gupta argued that English is harmed because she cannot engage in her statutory right to function as the CFPB director. 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
49SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Randall Smith Randall Smith is the co-founder of CUInsight.com, the host of The CUInsight Experience podcast, and a bit of a wanderlust.As one of the co-founders of CUInsight.com he … Web: www.CUInsight.com Details Thank you for tuning in to episode 90 of The CUInsight Experience podcast with your host, Randy Smith, co-founder of CUInsight.com. This episode is brought to you by our friends at PSCU. As the nation’s premier payments CUSO, PSCU proudly supports the success of more than 1,500 credit unions.My guest today is Victor Corro, President and CEO of Coopera and one of the CU DEI Collective founding members. We talk a ton about credit unions and their challenges with all the disruption going on, why diversity, equity, and inclusion are so important, and how credit unions can be the leader in this space. Victor also shared his path to where he is today and the leadership lessons he’s picked up along the way, plus much more on this episode of the show.Victor discusses why diversity, equity, and inclusion are important across the board, not just in credit unions, and how the DEI Collective got started. He also speaks about how important it is to have a strategic plan at the C-Suite level to bring diversity into their hiring practices, the changes he has seen in credit unions since the start of the pandemic, and what he will be most proud to have accomplished a year from now.In the leadership portion, Victor shares what inspired him to take the position and Coopera, the years it took him to cultivate the ability to make hard decisions and a mistake he made early in his career. Travel is how Victor recharges, and to date, he has been to 90 countries. I’m 40 behind him. Need to get traveling again to catch-up.In the rapid-fire questions, we learned that Victor learned to speak English from U2’s Joshua Tree album, and his most memorable trouble was when he parked his dad’s jeep on the beach during low tide and found it floating during high tide. I enjoyed this conversation and hope you do as well.Subscribe on: Apple Podcasts, Spotify, Google Play, Stitcher Books mentioned on The CUInsight Experience podcast: Book List How to find Victor:Victor Corro, President and CEO of [email protected]omLinkedIn | Twitter | Facebook Show notes from this episode:A big shout-out to our friends at PSCU, an amazing sponsor of The CUInsight Experience podcast. Thank you!Check out all the outstanding work that Victor and his teams at Coopera and the CU DEI Collective are doing.Shout-out: Pat JuryShout-out: Victor’s father, mother, brother and sister.Shout-out: Jill NowackiShout-out: Maurice SmithShout-out: ACCOSCAShout-out: George OmbadoShout-out: Maria MartinezAlbum mentioned: Joshua Tree by U2Previous guests mentioned in this episode: Maurice Smith, George Ombado, Maria Martinez, Jill Nowacki (episodes 4, 18, 37, 64 & 82) In This Episode:[01:56] – Welcome to the show, Victor![03:29] – Victor shares why DEI is so important not only in the credit union industry but across the board.[04:15] – He speaks about the DEI Collective and how it got started.[07:34] – Victor discusses how necessary a strategic plan is at the C-Suite level for bringing diversity to their hiring practices.[10:01] – What changes have you seen in credit unions since the pandemic started?[12:40] – Victor shares how his leadership style has changed since the global health crisis.[14:19] – Victor will be proud a year from now about how they focus on inclusivity.[16:42] – What inspired you to take the position at Coopera?[18:04] – Victor shares how the inspiration has changed with time on the job.[21:26] – It’s doable is something that Victor says all the time.[22:02] – Victor speaks about the years it took to cultivate the ability to make hard decisions.[22:51] – You should know it all, you have all the answers. It is a myth about leaders that Victory wants to debunk.[23:59] – Victor discusses a mistake he made early in his career.[24:57] – The advice that he was given years ago that he still uses today is Pause.[26:34] – Victor shares about his mentor and how good it is to have that kind of relationship.[27:33] – Victor travels to recharge and has been to 90 countries.[30:23] – Victor shares what he was like in high school, and the first time he got into memorable trouble.[31:46] – A pilot is what Victor wanted to be when he grew up.[32:12] – Victor speaks about how important coffee is to his morning routine and how he brings coffee back from all of his travels.[33:20] – What is the best album of all time?[34:43] – Do you have a book you think everyone should read?[35:33] – A connection with the family has become more important, and what people think of him has become less important.[36:35] – Victor’s dad comes to mind when he hears the word success.[38:03] – Victor shares some final thoughts.[39:15] – Thank you for being on the show!
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Whether it’s time to upsize from a unit or downsize from a large family home, the modern townhouse is becoming a top choice for a multitude of buyers.Forget about the old-school floorplans that dominated the market a few decades ago – today’s developers are designing townhouses with the modern buyer in mind.These high-quality, low maintenance homes are proving to be the ideal long-term solution for many buyers, including young couples and busy families. So, what makes terrace homes so appealing?Terrace homes have come a long way over the years.Desirable locationsTownhouses have taken off in southern markets, particularly Melbourne, where a desire to live close to the CBD in something larger than a unit has driven increased demand.As Brisbane’s population continues to grow, townhouses are expected to become a regular addition to higher amenity inner-city areas.According to the Australian Bureau of Statistics, in the first 10 months of 2018, the number of townhouse approvals in the Greater Brisbane area was almost 45 per cent higher than the number approved ten years prior.The design of these terrace homes allow natural light to flow throughout.Cedar Woods’ senior development manager for Queensland, Peter Starr, said they had recognised the demand for an option other than units close to the CBD in Brisbane and as a result launched Bexley, located just 5km from the CBD.Bexley is in close proximity to some of Brisbane’s leading private schools, as well as Kedron Brook’s bikeways and walkways, and the Shaw Park sporting fields.It is also 400 metres from the Wooloowin train station and the attractiveness of a simpler, more convenient style of housing is expected to continue driving demand.More amenitiesTownhouses are often built in infill areas. Buying closer to the city means you are also buying into an inner-city lifestyle, without compromising on the space you are living in.Many such homes are being developed in growth corridors where there are already established communities, so that means plenty of restaurants, shops, parks and public transport nearby.The project is a long-term commitment by Cedar Woods to help transition Wooloowin from a traditional ‘timber and tin’ suburb to an in-demand lifestyle precinct.The number of townhouse approvals in Greater Brisbane continues to rise.Wooloowin is one of Brisbane’s older suburbs, boasting a number of heritage-listed buildings and many older, inter-war Queenslander style homes.In recent years, traditional and heritage homes in the area have been being given a new lease of life with many of the traditional Queenslander homes being renovated and modernised.This reinvigoration is now flowing into Wooloowin, with Bexley helping to revive the suburb by adding to the housing diversity and adding to the local open spaces by providing a new 4,000 sqm public parkland as well as new bike paths and walking trails.The Cedar Woods team will spend up to five years on-site, allowing them to watch the vibrant community come to life.Thoughtful design for the modern buyerForget everything you knew about townhouse designs. Modern terrace homes are a far cry from what was on offer in the eighties when it was a combined kitchen and lounge downstairs and two small bedrooms upstairs.Bexley, in particular, is setting the standard when it comes to Queenslander’s expectations for this style of home.Buyers will have city skyline views from Bexley’s terrace houses.The layouts are akin to those you could find in a stand-alone home, with front or rear yards, high ceilings and city skyline views.Starr said with Bexley, Cedar Woods have aimed to provide a “modern, sophisticated and refined” style of housing that could be adapted to changing needs of families.“It’s not uncommon for the bedrooms to be used for different purposes, such as a study or a studio, and its equally common for the main bedroom to be in different rooms over the life cycle of the family as parents seek to be close to, or in due course, escape from the children,” Starr said.High-quality, low-maintenance livingTownhouses are a great option for time-poor inner-city dwellers who want to spend less time looking after their home and more time entertaining or exploring their surrounds.With low maintenance landscaping, terrace homes cater to those who like the idea of green space around them, but sigh at the thought of weeding their garden on the weekend.“Townhouses offer many benefits that appeal to a wide range of buyers who value their free time and are not compelled to buy a big house with an expansive yard as a status symbol,” Starr said.The kitchens boast top-notch fixtures and fittings.When it comes to the interior, Bexley is fitted out with stone benchtops; stainless steel Bosch appliances and air-conditioning, meaning there’s no need to worry about renos or upgrades down the track.Starr said high ceilings, plenty of natural light and generous living areas with cleverly designed storage opportunities and well-appointed kitchens and bathrooms, gave the terrace homes a feeling of spacious, luxury living.Bexley is offering buyers two- and three-storey terrace homes with a choice of three or four bedrooms, and two car parking spaces – ideal for busy and growing families.All renders supplied by Cedar Woods.
Image courtesy of GTT/Roland MouronFrench liquefied natural gas containment system specialist, GTT, has been contracted by Chinese shipyard Hudong-Zhonghua for the tank design of two new LNG carriers. The vessels are being built for a ship-owner whose name remains confidential at this stage, GTT said in its statement.Each vessel will have the capacity to transport up to 174,000 cubic meters of liquefied natural gas.GTT will design the tanks of the vessels, which will be fitted with the NO96 L03+ membrane containment system, a technology developed by GTT.The delivery of the vessels is planned during the second semester of 2021.