Annual AML data collection to start this week
The Solicitors Regulation Authority’s annual AML and sanction data collection will start this week, with firms required to provide information about AML and financial sanctions activity and how it’s managed. All regulated firms must provide the SRA with information on work carried out within the scope of the Money Laundering, Terrorist Financing and Transfer of […]
CLC publishes updated advisory note on sanctions
The Council for Licensed Conveyancers (CLC) has published an updated advisory note on compliance with the UK sanctions regime, which it is urging practices and individuals to become familiar with. The sanctions regime concerns restrictive measures imposed by the UK government in order to achieve specific foreign policy or national security objectives. There ar various […]
AML rules ‘a major burden’ government admits, as it brings forward reform plans
The government has acknowledged Anti Money Laundering (AML) regulations ‘are seen as a major burden’ to professional business service firms, and has pledged to reform the controversial rules by the end of the year. Writing in the Professional and Business Services Sector Plan, which sets out details of the UK’s Modern Industrial Strategy for the […]
SRA shares advice on AML compliance – and warns enforcement will increase
The Solicitors Regulation Authority (SRA) has shared advice on how to stay compliant with AML regulations, and warns that enforcement action is set to increase over the coming year. In a webinar held last month, SRA investigations manager Tracey Bourne said enforcement activity had ‘increased probably by around 100%’ in the last financial year and […]
Five firms fined total of £118,000 for AML breaches
The Solicitors Regulation Authority continues its crackdown on AML breaches, with announcements that five firms have been fined a total of £118,000 for not following money laundering rules. The largest fine was handed to T G Baynes Solicitors, of Bexleyheath in Kent, who were ordered to pay a financial penalty of £63,869 and costs of […]
Property and ID data sharing a step closer with new legislation
The legislative framework required to share property and identification details between all parties in the transaction has moved a step closer as the Data (Use and Access) Bill receives royal assent. With applications across healthcare, planning, utilities, property and ID the Data (Use and Access) Act is wide-ranging. Described as a ‘key driver for change’ […]
Legal Eye’s AML document review service proves popular with conveyancing firms
With regulatory expectations rising and enforcement activity increasing, Legal Eye, a trusted expert in legal sector risk and compliance solutions, is seeing sustained demand for its AML Document Review service. Designed for firms that want a thorough check of their AML documentation, without undertaking a full audit or accreditation process, Legal Eye’s AML Document Review […]
Guidance on pre-contract enquiries published to tackle home buying delays
A new guidance document outlining recommendations on what might constitute unnecessary enquiries has been published; with its authors keen to point out the content is a first version and it is open to further refinement and comment. Guidance for Raising Appropriate Conveyancing Enquiries, or GRACE for short, has been pulled together by Vicki Redman of […]
Material information form ‘on pause’ after NTSELAT guidance withdrawal
The Law Society will pause its work on the material information form it planned to accompany the updated TA6 sixth edition due out in the Autumn. Speaking at the Bold Legal Conference Law Society Vice President Mark Evans said the withdrawal of the National Trading Standards Estate and Lettings Agents Team’s (NTSELAT) material information guidance […]
Unravelling the money mystery around practical source of funds: Best practice advice
Amidst property searches, chains and deadlines, there’s always that lingering question at the back of the conveyancer’s mind: “Where did this money really come from?” Source of Funds (SoF) and Source of Wealth (SoW) checks aren’t just tick-box exercises: they’re a useful frontline defence against money laundering. They may seem like an unsolvable puzzle at […]
A step by step guide to meeting the latest AML client due diligence guidance
In its Anti-Money Laundering Guidance for the Legal Sector 2025, the Legal Sector Affinity Group outlines a number of updated steps and processes that should be taken by law firms to comply with regulations and help prevent money laundering. Below, we have set out the Client Due Diligence compliance requirements outlined by the Law Society […]
SRA publishes over £100,000 of AML fines since start of June
The Solicitors Regulation Authority (SRA) have published over £100,000 worth of fine for anti-money laundering failures since the start of June; with one firm fined nearly £80,000 alone for the failure to complete client and matter risk assessments (CMRAs) on a number of reviewed files, and failed to maintain ‘fully compliant’ policies, controls, and procedures […]
Communication is key when dealing with delays, says Legal Ombudsman in new guidance
The Legal Ombudsman (LeO) has set out its expectations for service providers when dealing with third-party delays, which stress the importance of effective communication. The LeO says almost half of the complaints it receives are about communication and delays, with a ‘common feature’ being whether the delay could have been caused or influenced by a […]
PLA says AML regulations and punitive fines are suffocating conveyancers, as it launches campaign for reform
The Property Lawyers Alliance (PLA) says a ‘mountain’ of regulations and red tape are suffocating conveyancing and the ‘vast panoply’ of Anti Money Laundering (AML) guidance notes, laws, regulations and sanctions are ‘a serious impediment to the efficient working of the UK property market and a significant drag on the economy’. The PLA estimates AML […]
New guidance document on pre-contract enquiries set to be published
A new guidance outlining recommendations on what should and should not be included in pre-contract enquiries is to be published. The document has been produced by Vicki Redman of Swiitch (working with other conveyancers from other firms) in response to an increase in what is described as ‘wholly inappropriate’ enquiries. 66% of respondents to the […]
New LSAG guidance: Practical updates for AML compliance
The Legal Sector Affinity Group (LSAG) has rolled out its updated anti-money laundering guidance, which has been approved by HM Treasury and took effect on 23 April 2025. This isn’t just another regulatory refresh; it’s a call for law firms and lawyers to rethink how we identify and manage risks that can lurk for years […]
Chartered lawyer adds ‘another layer of confusion and complexity’ – Law Society hit back
The Law Society of England and Wales has hit back at the introduction of a ‘CILEX Chartered Paralegal’ as part of amendments to CILEX’s Royal Charter which provides formal recognition for CILEX paralegals. The Law Society has described the change as adding ‘another layer of confusion and complexity for consumers’ and fundamentally disagrees with the […]
Mental health and compliance culture: Why clear procedures are about more than just regulation
As Mental Health Awareness Week approaches this May, the legal sector has an opportunity to pause and reflect. Not only on the emotional toll of client work, court deadlines, and high workloads, but also on the pressures created by unclear systems, inconsistent expectations, and the weight of compliance responsibilities. According to LawCare’s most recent Impact […]
Unlocking the power of AI: Opportunities and use cases for law firms
Artificial intelligence (AI) is here. And it’s already reshaping the way law firms operate. Whether automating repetitive tasks, improving risk management, or boosting efficiency, AI presents a genuine opportunity for forward-thinking legal practices. But with new opportunities come new responsibilities. And as firms explore AI tools, it’s essential they consider how to govern them safely […]
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 […]
