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Regulation and Compliance Office Helping law firms and regulated businesses navigate AML, compliance, and risk management with guidance.

Recent SRA enforcement decisions and regulatory developments highlight important compliance lessons for law firms.From t...
09/10/2026

Recent SRA enforcement decisions and regulatory developments highlight important compliance lessons for law firms.

From the SRA's ongoing legal professional privilege dispute to the growing influence of AI on legal services and client complaints, the regulatory landscape continues to evolve.

Alongside these developments, recent SRA enforcement cases have resulted in financial penalties for failures involving AML risk assessments, client accounts and conflicts of interest.

These decisions reinforce the importance of maintaining up-to-date policies, carrying out effective compliance monitoring and keeping clear evidence that procedures are being followed in practice.

Our latest Regulatory News and Enforcement Roundup covers these developments, the SRA's new consultation on solicitor competence and the practical lessons firms should take from recent decisions.

Read the latest article in full to stay informed and understand what these developments could mean for your firm's compliance arrangements.

🔗https://regulationandcomplianceoffice.co.uk/recent-cases-and-regulatory-news-roundup/

For CLC-regulated practices, this can arise across AML and file reviews, complaints handling and the new Ongoing Compete...
07/10/2026

For CLC-regulated practices, this can arise across AML and file reviews, complaints handling and the new Ongoing Competence Code.

Even where support staff are employed, they may not have the seniority or independence required to review the principal’s own work objectively.

The solution is to recognise where those independence gaps exist and put appropriate external support in place before they become a regulatory issue.

🔗 Access our latest article in full to understand where independence matters and how your practice can address the gaps: https://bit.ly/4rQFu6D

238,396 suspected mule accounts were closed in 2025. The FCA says firms still need to do more.Its latest review found th...
05/10/2026

238,396 suspected mule accounts were closed in 2025. The FCA says firms still need to do more.

Its latest review found that criminal funds are often moved through chains of accounts before being cashed out, making suspicious activity increasingly difficult to identify when transactions are considered in isolation.

While the FCA’s review focused on banks, building societies, payment institutions and e-money institutions, there are wider lessons for regulated businesses handling funds or transactions.

Could your controls identify rapid movement of funds, linked customers or accounts, unusual payment patterns, repeated suspicious activity, or transactions that don't make sense based on what you know about the client?

🔗 Read the article in full: https://bit.ly/4rM1QpR

Two very different cases, but the same regulatory outcome.The FCA has recently banned a former law firm owner following ...
05/10/2026

Two very different cases, but the same regulatory outcome.

The FCA has recently banned a former law firm owner following serious misconduct involving client money and a former HSBC executive following a criminal conviction for fare evasion.

The figures involved could hardly be more different, but both cases came back to the same question: does this individual have the honesty and integrity required to be considered fit and proper?

Our latest article explores what these decisions mean for senior managers and others in regulatory roles, particularly where an individual operates across more than one regulated sector.

Conduct outside your FCA-regulated role, and findings by another regulator, can affect your regulatory standing.

🔗 Read the latest article in full: https://bit.ly/4z8Ai0a

The future of professional services AML supervision is changing, but firms should not wait for the transition to review ...
05/10/2026

The future of professional services AML supervision is changing, but firms should not wait for the transition to review their compliance.

Your existing supervisor and obligations remain relevant today.

The strongest preparation for future supervision is straightforward: ensure your current AML framework is properly implemented, regularly reviewed, and supported by evidence.

That includes your risk assessments, CDD processes, source-of-funds work, ongoing monitoring, training, and the records behind the decisions.

Speak to our team at RACO about reviewing your AML framework and readiness for future supervisory change. Connect here: https://bit.ly/4jrUrcT

September brought a particularly busy run of regulatory developments for law firms, and several of them will continue to...
02/10/2026

September brought a particularly busy run of regulatory developments for law firms, and several of them will continue to shape compliance priorities throughout October.

The SRA has paused its planned COLP and COFA separation rules, the Employment Rights Act changes are now taking effect, and firms are approaching an Autumn Budget that could affect client account interest and wider finances.

Alongside these developments, the SRA’s updated Sectoral Risk Assessment continues to highlight areas firms should be reflecting in their own risk assessments, including AI-enabled fraud, cybercrime, remote onboarding and other emerging money laundering risks.

Our October Compliance Roundup brings together key developments, including the latest on AML supervision, SRA renewals, the upcoming Law Society AGM, sanctions compliance, and the Autumn Budget.

A significant change under the Employment Rights Act 2025 takes effect today, 1 October 2026.The time limit for bringing...
01/10/2026

A significant change under the Employment Rights Act 2025 takes effect today, 1 October 2026.

The time limit for bringing most employment tribunal claims has increased from three months to six months.

The new period generally applies where the relevant act, conduct or failure occurs on or after 1 October.

Firms should consider whether their processes remain appropriate for:

• retaining relevant employment records for longer
• preserving witness evidence while events are still fresh
• managing grievances and disciplinary matters
• handling settlement discussions and potential disputes
• ensuring managers understand the new timeframe

For regulated businesses, good record-keeping and clear governance around employment matters can also form part of the wider compliance and risk management framework.

The change is now in force, so employers should make sure their internal processes reflect the new six-month period.

Follow RACO for practical updates on the Employment Rights Act 2025 and other regulatory developments affecting your business 💡

The SRA's 2026/27 practising certificate and registration renewal window is now open and runs until 31 October. Although...
01/10/2026

The SRA's 2026/27 practising certificate and registration renewal window is now open and runs until 31 October.

Although this year's bulk renewal application has no new questions, firms still need to ensure the information they submit is complete and accurate.

An organisation contact or authorised signatory can complete the application, but only an authorised signatory can submit it.

Firms should also check who is included in the bulk renewal before submission, particularly where employees have joined or left. Don't leave the checks until the end of October.

If you need wider support reviewing your firm's compliance position, speak to RACO about ongoing support across the areas that matter most to managing partners, COLPs, COFAs and MLROs: https://bit.ly/4hvsePU

With the Autumn Budget approaching, two proposals could significantly affect law firms' finances 🚨The proposed Interest ...
30/09/2026

With the Autumn Budget approaching, two proposals could significantly affect law firms' finances 🚨

The proposed Interest on Lawyers’ Client Accounts Scheme could require firms to remit a substantial proportion of interest generated on client accounts to the government.

At the same time, the possibility of extending employer National Insurance Contributions to LLPs remains another area for firms to watch.

Neither proposal has been confirmed, but for firms where client account interest represents a meaningful part of income, understanding that exposure now could be important.

Our latest article looks at the proposals, the figures behind the concerns, and what firms should consider ahead of the Budget.

🔗 Read the latest news in full: https://bit.ly/4xNc4Yd

The FCA's cryptoasset authorisation gateway opens today.Firms intending to carry out activities within the new regulator...
30/09/2026

The FCA's cryptoasset authorisation gateway opens today.

Firms intending to carry out activities within the new regulatory perimeter need to understand whether they will require FCA authorisation or a variation of their existing permissions.

The application window runs from 30 September 2026 to 28 February 2027 for firms seeking to benefit from the relevant transitional arrangements, with the new regime expected to take effect on 25 October 2027.

The next step is to understand whether your activities fall within scope and what preparation may be required. Existing registrations and permissions won't automatically convert.

Review the FCA's new cryptoasset regime and assess whether your activities could fall within scope.

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