Author: Simon Seaton
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When AML Failures Are Just the Tip of the Iceberg
The SRA has moved to intervene in yet another multi-office firm, marking a total shutdown that serves as a sobering wake-up call for the legal sector. Operating across four counties with ten offices and 42 staff, the CQS accredited firm has been shuttered, and three solicitors have been suspended. While the solicitors themselves aren’t facing…
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New Firms, New Focus: Why the SRA is Closing the “Two-Year Gap”
For years, many newly established law firms felt they had a “grace period” before falling under the intense gaze of an SRA AML Audit. The logic was simple: without years of historical data or a track record of completed data questionnaires, these firms sat comfortably in a middle-of-the-road risk category. However, the latest OPBAS (Office…
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AML Supervision: The “Paper Tiger” Era is Ending
A recent Financial Times report on the state of anti-money laundering (AML) supervision in the UK has sent a clear message to the professional services sector: while compliance is improving, enforcement still lacks the “teeth” necessary to be a true deterrent. At Lexsure, we perform Independent AML Audits for a wide range of legal firms…
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The SDLT Time Bomb: Are You Outsourcing Your Liability?
Outsourcing SDLT used to be about efficiency. In 2026, it might be about exposure. Between HMRC changes, tightening CQS scrutiny, lender panel wording and sharper PII underwriting, SDLT outsourcing may move from an “operational shortcut” to potential compliance risk. Here is where conveyancing firms are vulnerable. 1. HMRC: Who Is Actually Giving the Tax Advice?…
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It’s Time for a Digital CMRA.
In the world of legal compliance, “good enough” is a dangerous gamble. If your firm is still relying on static templates or paper-based forms to vet new business, you aren’t just slowing down. You are inviting risk. The SRA and other regulators are increasingly vocal about the difference between a “check-the-box” exercise and a robust…
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The Email Every Senior Partner Dreads: When the SRA Meets Your Lender Panel
It is hardly news anymore: the SRA is on an AML warpath…again. Fines are up, patience is down, and the “unlimited” fining power is being flexed. But if you think a five-figure check to the regulator is your biggest problem, think again. The real “death blow” isn’t the fine. It’s the email that arrives some…
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Why “Defensible Judgment” is the Law Firm’s New AML Mandate for 2026
In 2026, the legal sector finds itself at a critical juncture. With the UK economy facing a very negative future, the implications for UK law firms are acute. As “gatekeepers” solicitors and legal professionals are facing a perfect storm of economic volatility, sophisticated criminal tactics, and a sharp pivot by regulators toward “outcomes-based” enforcement. Here…
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Feb 2026 AML Special: Most common areas that SRA focus on when it comes to an AML Policy
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.
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Beyond the Bank Statement: Navigating the “Originating Funds” Trap in the UKF Handbook
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…
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The SRA’s New “Profiler”: The Thin End of the Wedge for Law Firms?
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…