Category: CQS Conveyancing
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The AML Oversight Shift: Why Law Firms and Accountants Face a New Reality in 2026
The regulatory landscape for professional services is changing, with the FCA becoming the primary supervisor for accountants, intensifying oversight akin to that of law firms. This shift necessitates a dynamic, risk-based Accountancy AML Checklist, tailored to specific client profiles. Firms must adapt to comply with evolving regulations by 2026 or risk serious repercussions.
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SRA Cracks Down on Financial Crime: Whiteheads Case Study
The Solicitors Regulation Authority fined Whiteheads Solicitors £2,584 plus costs for failures in compliance with anti-money laundering regulations. Key issues included inadequate client risk assessments and poor scrutiny of fund sources. This case underscores the necessity for law firms to ensure rigorous application of AML policies to avoid penalties.
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FCA AML Audit: The SRA Is Out, the FCA Is In
For years, law firms prepared for AML scrutiny with one regulator in mind: the SRA. That era is over. The UK Government has confirmed a fundamental shift in supervision. AML and counter-terrorist financing oversight is moving from the SRA to the Financial Conduct Authority (FCA). This is not a cosmetic change. It is a full…
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The December 2025 AML Crackdown: Is Your Firm Next?
The first half of December 2025 sent a blunt warning to the legal profession: the SRA will not accept poor AML compliance. A number of enforcement actions has resulted in thousands of pounds in fines for technical failings. In short, you don’t have to launder cash to be penalised—poor record-keeping will do the job. The…
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AML Audit Case Study – A Conveyancing CQS Firm
During a desktop SRA AML audit the legal regulator help the practice to be non-compliant. This was due to the absence of a firmwide risk assessment and an updated AML policy and procedure, insufficient relevent staff training on AML, and the MLRO failing to have completed enhanced AML training. The SRA sent written notice, providing…
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CQS Mortgage and Property Fraud Prevention Policy – What to Include
It’s one thing to say you have a Mortgage and Property Fraud Prevention Policy; it’s another to have a document that actually works under pressure. If you are currently updating your firm’s manual to meet CQS requirements, you don’t need to reinvent the wheel. Below is a sample index of what a ‘gold-standard’ CQS Mortgage…
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Target 2026: Is Your Firm Ready for SRA Sanctions Audits?
The regulatory honeymoon is well and truly over. As we move to 2026, the SRA Sanctions Audit has evolved from a peripheral compliance check into a central pillar of legal supervision. Firms still treating sanctions as a minor subset of AML are now finding themselves directly in the crosshairs of the Solicitors Regulation Authority. While…
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Mind the Gap: SRA Targets the “Disconnect” in AML Policies for 2025 Thematic Review
The SRA has confirmed that its 2026 AML thematic review will focus squarely on AML Policies, Controls and Procedures (PCPs) — and it’s not just another paperwork exercise. This latest review follows previous deep dives into firm-wide risk assessments, client matter risk assessments, and source of funds. But the regulator says a familiar problem keeps…
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The Rise of FCA AML Audits: What Law Firms Must Learn from the Nationwide 44m Pound Fine
Hello everyone, and thank you for joining today’s session on the blog on the topic of FCA AML audits for lawyers. The Financial Conduct Authority (FCA) has issued a 44,078,500 pound Final Notice to Nationwide Building Society for systemic anti-money-laundering (AML) control failures between 2016 and 2021. While this enforcement action is aimed at a…
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Conveyancing Update: e-ROT Precedent Texts for December 2025
The Renters’ Rights Act 2025 is no longer something to plan for in theory; it is now law. While the headline tenancy reforms do not come into force until 1 May 2026, local authorities have already been granted new investigatory and enforcement powers, which became active in late December 2025.