I am increasingly seeing the SRA identify that firms’ compliance policies are missing the following key provisions: Do not wait for an SRA AML audit or, worst still an FCA AML Audit. Make sure your PCPs are updated.

In the mortgage industry, the UK Finance Lenders’ Handbook is the “Bible” for conveyancers. Section 5.13.1 specifically governs how solicitors must handle the balance of the purchase price, essentially, where the deposit comes from. While many buyers think a bank statement is enough, a growing number of lenders are using the specific term “originate” (or… Read more: Beyond the Bank Statement: Navigating the “Originating Funds” Trap in the UKF Handbook

In the legal world, “intervention” is a word that usually signals the end of the road. It means the regulator has stepped in, the locks have been changed, and a firm’s existence has been extinguished. But for years, the Solicitors Regulation Authority (SRA) has been criticised for arriving at the scene only after the building… Read more: The SRA’s New “Profiler”: The Thin End of the Wedge for Law Firms?