We’ll be honest – when we sat down at the start of May to look at what was coming through, my first instinct was that it might be a quieter month. No emergency guidance, no high-profile firm collapses making the headlines, nothing that felt quite as dramatic as some of what we’ve covered recently. And then I actually read everything.
The SRA quietly published enforcement data showing a 58% rise in misconduct reports in two years. The Government released its first ever cross-government sanctions enforcement strategy. HMRC announced its annual AML data collection is on its way. A judge referred two solicitors to the SRA over AI-generated cases that simply didn’t exist. And the Money Laundering Regulations are about to change. Quiet, it was not!
This month's Compliance Lifeline contributors
In conversation with Victoria Marshall, Head of Property, Pearson Legal & Financial Advisers
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The SRA’s complaints handling consultation – where we are and what it means for your firm
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And finally...
If there’s a single thread running through this month’s edition, it’s that the regulatory environment is moving in one direction – and it isn’t backwards. Enforcement is up, scrutiny is tightening, and the rules themselves are changing across AML, sanctions, AI, and property. None of that should cause alarm but it does require attention. There are two live consultation deadlines worth noting before you move away from this page – the SRA Business Plan consultation closes at midday on 22 June, and if your firm has views on the proposed fee increases, now is the time to say so. As always, if anything here prompts questions about your own firm’s position, we’d be glad to help.
Anne & Ed