NEWS
News and information from the world of
regulatory compliance and risk management
SRA issues new guidance on AML policies, controls and procedures
The SRA published new guidance on anti-money laundering policies, controls and procedures on 22 October 2026. The guidance provides a clear indication of what the SRA expects to see when assessing whether a firm's AML arrangements are effective. The guidance follows...
SRA publishes its 25/26 AML Annual Report: what should firms do now?
The SRA has published its Anti-Money Laundering Annual Report for 2025/26, highlighting improvements in compliance across the profession but also identifying continuing weaknesses in firms’ AML procedures. The report is worth reading because it reinforces the SRA’s...
FCA gives early insight into future AML supervision of law firms
There was an interesting development for law firms this week when Steve Smart, the FCA's Executive Director of Enforcement and Market Oversight, spoke at the Law Society Economic Crime Conference. His speech provided a useful early indication of how the FCA intends to...
New Government AML strategy – what does it mean for law firms?
The Government published its Anti-money laundering and asset recovery strategy 2026–2029 this week, setting out its plans for strengthening the UK's response to money laundering and recovering more criminal assets. So, what does it mean for SRA-regulated law firms? No...
SRA Warning Notice: Law Firms Must Take a Responsible Approach to AI
Artificial intelligence is becoming an increasingly familiar part of legal practice, with firms using AI tools for tasks ranging from drafting and document review to research, summarisation and administrative work. The SRA's new Warning Notice on Misuse of AI,...
SRA updates its AML sectoral risk assessment: what should law firms be doing now?
The Solicitors Regulation Authority (SRA) has updated its sectoral risk assessment for anti-money laundering and terrorist financing, following HM Treasury’s publication of its National Risk Assessment. For firms within the scope of the Money Laundering Regulations,...