The Solicitors Regulation Authority (SRA) has published a thematic review focused on anti-money laundering (AML) training in law firms. This review is a timely reminder that training plays a [...]
“How many legal regulators does it take to fix a lightbulb?” “Just one… but only after an independent review finds that it’s broken.” The long-overdue independent [...]
Sham litigation is often cited as a potential avenue for money laundering, where the legal process of dispute resolution is abused to disguise the origins of illicit funds. For years, skepticism [...]
It’s been over two years since the SRA has been empowered to impose increased fines upon both individuals and entities, and there seems to be more on the way, writes Sophie Cisler. Their powers [...]
The Solicitors Regulation Authority (SRA) recently issued a consultation (now closed) proposing significant changes to its financial penalties framework. The response from key stakeholders in the [...]
Compliance with Anti-Money Laundering (AML) regulations is increasingly a source of stress and concern for lawyers. The Solicitors Regulation Authority (SRA) has been ramping up its enforcement [...]
With the introduction of the Worker Protection (Amendment of Equality Act 2010) Act 2023, set to come into force in 2024, law firms face a critical shift in their responsibilities regarding [...]
Regular readers of the COLP Insider newsletter will know that the Solicitors Regulation Authority (SRA) has been ramping up its efforts to combat money laundering within the legal sector. As part [...]
As the legal industry evolves, mergers, acquisitions, and sales are becoming more frequent among law firms. Whether for strategic growth, market consolidation, or retirement, these transactions [...]
In August 2023, the Metropolitan Police broke up a £55 million money laundering ring operating in Hackney. This complex scheme involved several individuals who laundered large sums of money [...]
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