SRA Update
Issue 147 - February 2026
Welcome to the latest issue of SRA Update. In this issue, we talk about our continued work on high-volume claims work, with a warning notice published around no-win, no-fee arrangements, and a joint statement with the Financial Conduct Authority on car finance claims. Also this issue, find out about the first four years of the Solicitors Qualifying Examination. And it’s your last chance to have your say on our latest proposals around protecting client money, our consultation closes soon.
We have intervened to protect the interests of clients of PM Law Ltd (and associated firms) following their unexpected closure on 2 February. This is a distressing time for both former clients and employees of the firm. We are working quickly to gather all the relevant information and provide answers to those that have raised important questions about their on-going matters with the firm.
This has been a challenging week for everyone impacted by PM Law's sudden closure. Sarah Rapson, Chief Executive said: "We recognise that this is a difficult time for the employees of the firm who have sadly lost their jobs." We have provided details of various organisations that can offer advice and support if you have been impacted by the closure.
Read more about: Information for employees and trainees at PM Law Ltd
Do you work in the high-volume claims sector? Read our newly published Warning Notice addressing issues with how many ‘no-win no-fee’ arrangements are being marketed and run on a day-to-day basis. The warning highlights key areas of concern including how such arrangements are marketed, how they are explained to clients, and what information is being shared on costs and risks involved.
Read more about: Warning notice issued on 'no-win no-fee' handling
Working alongside the Financial Conduct Authority we have published a joint statement reminding claims management companies and law firms of obligations when handling motor finance claims. Areas covered include the need to make sure clients are not signing up to multiple representatives for the same claim, or being charged excessive termination fees.
Read more about: Motor finance work – joint statement with the Financial Conduct Authority
We have strengthened our executive team by appointing Deborah Jones as our new Executive Director for Transformation. Sarah Rapson, Chief Executive, said: 'One of the priorities I outlined in November was the need to strengthen and improve our operational delivery. Deborah’s expertise, both in regulatory transformation and competition law, will be a welcome addition.'
Read more about: New appointment to improve the SRA's operational delivery
Read our new report that provides data and insights from the first four years of the Solicitors Qualifying Examination (SQE). The report, ‘The SQE: Four Years On’ draws together candidate data and two recent analyses of performance by Kaplan, the SQE assessment provider.
Read more about: Discover SQE's journey over the last four years
Our ongoing consultation on potential changes to firms’ obligations around accountants reports and the division of regulatory roles within firms will close soon, on 20 February. If you want to get involved there is still time. To learn more, watch the webinar and Q&A session we broadcast when the consultation opened.
Read more about: Consultation on protecting client money closing soon
We have published our suite of annual reports covering our work during 2023/2024. The reports provide data and insights on our operational work. Our summary report pulls out the key headlines from the review.
We have published our latest gender pay gap and ethnicity pay gap reports. These reports include our achievements and further commitments to a fully inclusive workplace.
Read more about: Reports show work done on gender and ethnicity pay gaps
The Government has issued a call for evidence on housing disrepair claims and tenants’ experience in seeking redress. We encourage those with experience of these types of claims to take part. You have until 12 February 2026 to respond.
Read more about: Call for evidence on housing disrepair claims
The Legal Ombudsman is publishing a series of blogs to provide insights for firms on common problems, with the aim of reducing complaints being made by clients. The latest article looks at responding to requests from beneficiaries during the administration of estates.
Read more about: Avoid estate administration complaints highlighted by LeO
How well do your fee earners understand anti-money laundering (AML) risk? Our free webinar will go through some of the controls designed to manage your firm’s risk. We will share what we have seen over the last year and apply AML controls to a fictional case study, to help you understand how they work.
Read more about: Can your firm improve on money laundering controls? Watch our webinar to find out
Are you looking for a new challenge? In February, we will be recruiting for roles in Investigations, Anti Money-Laundering, Client Protection, Policy, Authorisation and Ethics, including legally qualified roles.
Welcome to the latest issue of Compliance News. In this issue, we talk about our continued work on high-volume claims work, with a warning notice published around no-win, no-fee arrangements. There’s a new way to make reports of misconduct – those of you who might have saved the old form down will no longer be able to submit concerns to us. And there are updates on the sanctions regime, both in terms of screening and enforcement.
We have issued a formal warning on ‘no win, no fee’ arrangements to law firms and solicitors amid concerns over how the market for high-volume consumer claims operates and the risks this can pose to the public. The warning notice focuses on how claims are marketed and the need for firms to provide clear information to clients on costs and risks.
Read more about: Claims work still putting public at risk - warning notice
We have improved the process for self-reporting breaches against our Standards and Regulations, and how to complain about solicitor conduct. If you submit reports of alleged misconduct either about other firms or self-report from within your own organisation, you should use our new form.
Read more about: Misconduct reports process changed to make reporting easier
Join our AML proactive team on 17 March for this new webinar on using AML controls to manage your money laundering risk. We will share the controls you should be using and guide you through a case study to demonstrate how they can be applied. This session will also have an opportunity for live questions to the panel.
The government is streamlining its sanctions list and search function. The UK Sanctions List is now the single source for UK sanctions designations. The Consolidated List operated by Office of Financial Sanctions Implementation, and its search function, will no longer be updated.
The Office of Financial Sanctions Implementation (OFSI) has fined a large bank £160,000 after a designated person was able to open an account due to sanctions screening failures. We have looked at the key points this raises for solicitors when screening clients.
At the end of January we issued intelligence alerts to Money Laundering Reporting Officers (MLROs) and Money Laundering Compliance Officers (MLCOs). These secure alerts are emailed out and accessed securely via mySRA.
Read more about: Intelligence alerts issued to MLROs and MLCOs
HM Treasury is inviting firms to complete a survey, in advance of the 2027 Financial Action Task Force evaluation of the UK. This is relevant to firms working in an area with exposure to terrorist financing and proliferation financing risks.
Read more about: Complete survey to prepare for Financial Action Task Force
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