Anti-money laundering (AML) compliance is not optional—it’s a legal obligation. For small law firms and sole practitioners, understanding and implementing a Firm-Wide Risk Assessment (FWRA)… Read More »AML Guidance Note from the SRA regarding Firm-Wide Risk Assessments – Updated December 2024
According to an article by the Law Gazette, the Solicitors Regulation Authority (SRA) faces historic enforcement action by the Legal Services Board (LSB) following its… Read More »SRA Faces Enforcement Over Mishandling of Axiom Ince
According to Legal Futures, the Solicitors Disciplinary Tribunal (SDT) is set for a 25% budget increase in 2025, rising from £2.5 million to £3.1 million,… Read More »SDT Budget Set to Rise by 25% Amid Surge in Disciplinary Cases
The World Uyghur Congress Case Court of Appeal June 2024 Family lawyers need to be aware of the risk of unintentionally receiving criminal property as… Read More »Family Lawyers can face Criminal Liability
The Metropolitan Police released an article in August 2024, detailing a successful persecution of seven members of a criminal Chinese underground banking group by British… Read More »Officers Uncover £55 Million Laundered through Chinese Underground Banking Channels in the UK
In September 2024, a growing number of legal professionals have voiced strong opposition to the Solicitors Regulation Authority’s (SRA) proposed plans to drastically increase its… Read More »Lawyers Condemn the SRA’s Increased Fining Powers
The SRA has begun distributing an AML & Sanctions Questionnaire form which must be submitted through your MySRA profile by 23rd September 2024. The questions… Read More »SRA AML & Sanctions Questionnaire Due September 2024
A Client and Matter Risk Assessment (CMRA) is a regulatory requirement for evaluating money laundering and terrorist financing risks associated with a client or matter.… Read More »Good and Poor Practice for Client and Matter Risk Assessments
All firms regulated by the Solicitors Regulation Authority (SRA) have been contacted regarding a data collection exercise. Firms are required to answer questions about the… Read More »Anti-Money Laundering and Sanctions Data Collection by the SRA
As of July 2024, the Solicitors Regulation Authority (SRA) has introduced a new financial penalties framework under the Economic Crime and Corporate Transparency Act (ECCTA)… Read More »Unlimited Fining Powers by the SRA