SRA Update

Welcome to the latest issue of SRA Update. This month we have launched a review of the protections in place for your clients . The review considers whether the current balance is right between preventing firms from failing and protecting consumers when they do, and explores options for how we might want to considering making changes in the future. Currently we have more questions than answers, and we will be looking for help, including from you, in finding the best way forward. Also in this issue, there’s an update on our investigation into lawyers involved in the Post Office scandal, our latest response to proposals for us to regulate CILEX professionals, and details of coming events and webinars covering issues such as the SQE, anti-money laundering and working in-house.

Paul Philip

Chief Executive

Welcome to the latest issue of Compliance News. Last summer, we wrote to many of you to ask what you did to comply with the UK’s financial sanctions regime. All firms are subject to the regime, not just those captured by money-laundering regulations. Our survey revealed that a large number of you might have inadequate controls in place, so we have written to more than 1,000 firms with advice and support. Talking of complying with the financial sanctions regime, also in this issue we talk about how the Government has changed the regulations around politically exposed persons, and where to find information on high-risk third countries.

Paul Philip

Chief Executive