FCA AML Audit
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Why the CLC is Telling the LSB to “Focus on the Big Picture”
In the world of legal regulation, there is a fine line between “oversight” and “overreach.” According to the Council for Licensed Conveyancers, that line is currently being blurred. In a candid response to the Legal Services Board’s latest draft business plan, the CLC has issued a clear warning: the oversight regulator is spending too much…
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The FCA’s High-Stakes AML Takeover of the Legal Sector
The transition from SRA to FCA oversight for AML represents an “architectural reset” of the UK legal regulatory climate. While the 2017 Regulations remain unchanged, the move to a “Single Professional Services Supervisor” replaces the SRA’s collaborative, guidance-based approach with the FCA’s assertive, data-driven enforcement. This shift aims to eliminate the fragmented supervisory landscape that…