SRA Pledges AML Update ‘as Soon as Possible’ After Treasury ...

SRA pledges AML update ‘as soon as possible’ after Treasury outlines reform plans

The Solicitors Regulation Authority will update practitioners ‘as soon as possible’ after the government responded to a 2024 consultation on overhauling the Money Laundering Regulations 2017 (MLRs). The 47-page HM Treasury document ‘signals a clear intent to streamline compliance, reduce regulatory friction, and enhance the UK’s resilience to economic crime’, according to Ben Cooper, head of risk and financial crime at commercial firm TLT. Chang…

SRA pledges AML update ‘as soon as possible’ after Treasury ...

Lawyers highlighted ‘lack of clarity’ on source of funds checks during lengthy consultation.

'High risk' legal services NRA classification not proportionate, Law Society claims | Today's Conveyancer

The newly published UK National Risk Assessment (NRA) of Money Laundering and Terrorist Financing has been greeted with disappointment by the Law Society of England and Wales, with president Richard Atkinson pointing out the lack of prosecutions in the so-called ‘high risk’ legal sector. The 2025 NRA, produced by HM Treasury and the Home Office, continues to classify the sector as high risk for money laundering and says there has been ‘no signif…