I was on the phone to Charles Stanley in connection with a trust's portfolio. In passing CS mentioned that they wanted one of the trustees to provide a copy of their current passport because the passport used several years ago for the original MLR check had now expired. Replies to previous MLR questions have indicated that some solicitors repeat their MLR checks whenever a client seeks further legal services. This all seems to be taking MLR to Monty Python levels of absurdity. Is it not sufficient to perform the MLR identity verification once and only once ?
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its conterproductive nonsense
exacerbated by professional bodies gold plating everything as Heseltine said its not Brown its Balls
CDD
I believe the operative rule / phrase here is CDD (Continuing Due Diligence) - an ongoing obligation to periodically check ID, since (those who advise on / enforce the rules) believe that you now could be another person using the identity of yourself from a few years back. I suppose more of an issue where an impersonal service is provided ie. where advisors cannot recognise clients by sight at meetings.
Anyway I'd refuse unless dealing with a faceless professional who can't be bothered to meet you and recognise you by sight.
Only problem with refusal is that the firm may provide a very professional service (hence insistence on following rules) and if you change as a matter of principle then the new advisor will need the ID anyway. As it happens there is absolutely no obligation to provide, seek or obtain photo ID (ie. alertnative ID is acceptable) for MLR purposes.