Financial Services and Markets Act 2000: Primary legislation regulating financial services and markets in the UK, including requirements for authorized persons handling client money and regulatory framework for financial institutions acting as escrow agents
FCA Regulations: Regulatory framework including Client Asset Sourcebook (CASS) rules, establishing requirements for handling and protecting client money and segregation of funds
Trustee Act 2000: Legislation governing duties and powers of trustees, including investment powers and required standard of care in managing trust assets
Money Laundering Regulations 2017: Regulations establishing Know Your Customer (KYC) requirements, due diligence obligations, and reporting requirements for preventing money laundering
Payment Services Regulations 2017: Legislation governing payment services and establishing safeguarding requirements for client funds
Contract Law Framework: Common law principles of contract formation, The Contracts (Rights of Third Parties) Act 1999, and Misrepresentation Act 1967 governing contractual relationships
Data Protection Act 2018 and UK GDPR: Legal framework for handling personal data, including privacy and data security requirements for parties involved in the escrow arrangement
Banking Act 2009: Legislation governing banking institutions and special resolution regime considerations for escrow arrangements involving banks
Companies Act 2006: Primary legislation governing corporate entities, including directors' duties and corporate authority requirements
Proceeds of Crime Act 2002: Legislation establishing anti-money laundering framework and reporting obligations for suspicious transactions
