Changes to AML guidance ratified by Treasury
Changes to anti-money laundering guidance submitted to HM Treasury have been formally ratified and published in the latest Legal Sector Affinity Group (LSAG) Anti-Money Laundering Guidance for the Legal Sector 2025. LSAG, which is made up of the AML regulators in the UK including the Council for Licensed Conveyancers (CLC), Solicitors Regulation Authority (SRA) and […]
Pressure makes diamonds but it can also crack glass – why proactive AML compliance is non-negotiable for conveyancers right now
You’ve probably heard the saying “pressure makes diamonds” and if you’re working in residential or commercial property, you’re likely under more pressure than most. Tight deadlines, complex chains, and relentless client expectations come with the territory. You’ve been through the Stamp Duty headache already this year, so we know you’re recovering from that pressure, but […]
RICS launches consumer guide to residential energy retrofitting
The Royal Institution of Chartered Surveyors (RICS) has launched a free guide to making homes more energy efficient. The retrofitting advice, available on the RICS website, is aimed at consumers and follows the institution’s industry focused guide released in March last year. Topics covered by the new guide include heating, appliances, ventilation, insulation and professional energy […]
Now the dust has settled, what about post-completion?
As post-completion is the final part of a conveyancing transaction, there is a risk that this part of the process can be seen as less important and not given the required care and attention that it requires, which is also imposed by the regulatory bodies. If post-completion formalities are not carried out to the required […]
SRA says no final decision on scrapping client accounts has been made
A senior executive at the Solicitors Regulation Authority (SRA) has reassured solicitors that no firm decision has been made regarding the potential removal of client accounts, as reported by The Law Society Gazette. The recent SRA consultation, which closed at the end of February, raised the spectre of the end of client accounts and solicitors […]
TA6 Consultation – 14 key questions answered
The Law Society confirmed the outcome of the long-awaited consultation into the future of the TA6 Property Information Form this week with a “two form” approach, removing much of the questioning relating to ‘material information’ into a separate form and introducing a 6th edition of the TA6 in March 2026 after further consultation. In the […]
Prepared at a moment’s notice: A step-by-step guide for UK law firms facing SRA audits
The Solicitors Regulation Authority (SRA) is intensifying its efforts to ensure law firms meet strict AML requirements – often conducting audits with little or no warning. Failing to plan for a moment’s notice audit can result in a scramble to provide evidence of compliance. Worst-case scenario: a firm that lacks robust procedures may face severe […]
Membership body rejects proposed changes to client money
SME law firm membership body LawNet has defended the model of law firms holding client monies and says it believes there are no ‘credible alternatives’ to the client account model in its submission to the SRA consultation which closed at the end of February. Indeed the mutual goes as far as suggesting some of the […]
Stamp Duty Changes and the Impact on Law Firm Compliance
Starting April 2025, new UK stamp duty thresholds will come into effect, reducing the limit for first-time buyers to £300,000 and for other homebuyers to £125,000. This means higher costs for many buyers and challenges for firms who must remain the right side of compliance during this busy period. My Key Takeaways The upcoming decrease […]
CLC appoint new Chair of Adjudication Panel
The Council for Licensed Conveyancers (CLC) has announced Nick Hawkins has been appointed Chair of the Adjudication Panel, taking over from current chair, Victoria Goodfellow from 24th March 2025. Hawkins is a barrister by profession, and spent over ten years prosecuting, defending and sitting as a Judge Advocate in The Court Martial in the Royal […]
Legal Eye’s enhanced AML masterclass more critical than ever for CLC and SRA-regulated firms
As supervisory expectations intensify and enforcement actions increase, compliance is more critical than ever for firms regulated by the Council for Licensed Conveyancers (CLC) and the Solicitors Regulation Authority (SRA). Against this evolving risk landscape, Legal Eye, a trusted expert in legal sector risk and compliance solutions, advises firms to reinforce training with its enhanced […]
Navigating Counterparty Sanctions: Tailored Compliance Solutions for Law Firms
As a law firm operating in England and Wales, compliance with the Solicitors Regulation Authority (SRA) guidance on the UK sanctions regime (updated in August 2024) will likely be an increasingly important part of your compliance framework. Under this guidance, the SRA stresses the importance of having key controls in place to mitigate sanctions risk. […]
Government to consult on reintroducing EPC C minimum standards for lettings
The government have announced a consultation on mandatory EPC minimum standards for private rental property by 2030; 18 months after former Prime Minister Rishi Sunak scrapped similar plans. As it stands EPC E are minimum standards for private rented property, and with 48% of private rented homes in England already EPC C or above ministers […]
SRA clamps down on AML failings with fines totalling £66,000
The Solicitors Regulation Authority (SRA) has flexed its regulatory muscles with a series of fines levied on firms and individuals for failure to comply with money laundering regulations. Fines totalling over £66,000 have been levied since the beginning of February alone. These cases serve as a stark reminder to legal practitioners of the importance of […]
Rental reform welcome but uncertainty over courts funding could render it ineffective
The Renters’ Right Bill, which is working its way through Parliament and had its second reading in the House of Lords this week, has been welcomed by the Law Society of England and Wales, but missing components could render it ineffective warns President Richard Atkinson. “We are pleased that the Renters’ Rights Bill proposes widely […]
LSB consults on strategic priorities for 2025/26 amid budget concerns
The Legal Services Board (LSB) is consulting on the content of its business plan and budget for 2025/26, highlighting five key priorities for the super-regulator. In its final board meeting on 2024 it reaffirmed its commitment to the Reshaping Legal Services strategy, aimed at achieving fairer outcomes, stronger confidence, and better services across the legal […]
Allison Bradbury appointed new Chair of CoPSO
The Council of Property Search Organisations (CoPSO) has announced Allison Bradbury will become their new Chair from 1st February 2025. Previous Chair James Sherwood-Rogers stepped down at the end of September 2024 having led the organisation for 10 years. Allison joins having held senior positions at HM Land Registry over the last 35 years in […]
Portals and agents ‘failing consumers’ with lack of property information
Estate agents and property portals are failing to highlight issues to home movers which could have an impact on their decision to withdraw from a property purchase. Against a backdrop of fall through rates around one in three properties, property advice website HomeOwners Alliance reviewed 150 leasehold property listings on Rightmove, Zoopla, and OnTheMarket in […]
LSB launches consultation into how regulators will oversee prevention and detection of economic crime
A consultation on how legal regulators, including the Solicitors Regulation Authority (SRA) and Council for Licensed Conveyancers (CLC), can ‘promote the prevention and detection of economic crime’ has been launched by super-regulator, the Legal Services Board (LSB). Launched on 15th November 2024, the consultation will run until 7th February 2025 with the objective to ‘underline […]
“Sharp rise” in interventions prompts client account consultation
The Solicitors Regulation Authority (SRA) has launched its anticipated consultation on client money in legal services to review whether it remains appropriate for law firms to continue to hold significant funds in their accounts. The regulator announced plans to launch its consultation last week with SRA Chair Anna Bradley saying the reforms would tighten the […]
