SRA Update

Issue 139 - May 2025

General updates
Compliance updates

Welcome to the latest issue of SRA Update. It’s that time of year where we turn our attention to the future and the development of our Business Plan for 2025/26. This will be the third and final year of our current Corporate Strategy. We have had to readjust significantly in light of a rapidly changing legal sector to make sure that we continue to appropriately protect the public. Our Business Plan outlines what we intend to do. We very much welcome any views on the consultation. Also this month read about the next steps regarding updating our approach to setting financial penalties - including our approach to cases of drink driving, and that we have recently authorised the first-ever firm using AI. Also find out how you can sign up to events and webinars on topics such as AML, innovation and our forward plans.

Paul Philip

Chief Executive

Have your say on our Business Plan and budget

We are consulting on our latest Business Plan and budget, and compensation fund contributions. The plan outlines an increased programme of work to respond to a rapidly changing market. This includes dealing with a sustained increase in reports of misconduct, more complex cases and rising concerns about the high-volume consumer claims market.

Ask us about our plans

Find out more detail about our proposed plans and priorities for the year ahead by watching our webinar on Thursday 15 May. You can find out what this means for your practising certificate fee, and also have the opportunity to put your questions to our executive directors on the day. 

Chair of the Board’s blog – thoughts on the last meeting

Anna Bradley, Chair of the SRA, writes a regular blog looking back at the most recent Board meeting. During her latest reflections, she talks more about the changing landscape that has influenced our Business Plan.

First AI-driven law firm authorised

We have authorised the first law firm providing legal services through artificial intelligence (AI), a landmark moment. Many firms are already using AI to support and deliver a range of back-office and public-facing services, but this is the first purely AI-based firm we have approved to provide regulated legal services.

Further changes to the fining regime

We have been refining our approach to financial penalties over the last four years. We promised to keep our position under review and will be looking at further changes this year. This includes altering the approach to drink driving and accommodating the Economic Crime and Corporate Transparency Act.

Remaining on the roll – deadline 28 May

Solicitors without a practising certificate must tell us each year if they wish to remain on the roll. If that is you, then you will need to apply before 28 May and pay a £20 fee.

Navigating technology and AI – secure your free spot now

Book one of the final spaces at our free innovation events taking place in Leeds (10 June) or Birmingham (3 July). Gain insights and valuable advice on navigating the evolving technology landscape, including AI, from fellow solicitors and industry experts.

Webinar: AML for sole practitioners

By popular demand, we are running an anti-money laundering webinar aimed at sole practitioners on 21 May 2025. We will cover how you can best protect your practice from the risk of money laundering.

Get practical tips for onboarding clients online

The latest issue of Lawtech Insight covers practical tips on procuring onboarding technology and discusses everything from integration to data security. Also covered are the latest news stories on legal technology and innovation.

Our approach to AML enforcement – watch on-demand

Hear direct from our AML investigations team on our approach to investigating individuals and firms when we discover non-compliance with anti-money laundering (AML) legislation.

Sanctions: Insights and updates webinar – watch on-demand

You can watch our sanctions webinar on demand. We shared the recent trends and findings from our own proactive sanctions work. We were also joined by a compliance professional who talked about common challenges solicitors face as well as sanctions red flags.

SQE Virtual Conference – get the highlights

Our recent virtual SQE conference offered the latest on qualifying work experience, featuring perspectives and experiences from employers and a newly qualified solicitor. It also covered our SQE annual reports, insights on assessments and answers to common candidate questions. Read our summary for the key highlights and watch all sessions on-demand.

Your health, your career

Are you worried about your health affecting your work? Life as a solicitor can be challenging, and the demands and pressures can easily build up. We can signpost you to sources of help and make adjustments for you if you are in difficulty

Welcome to the latest issue of Compliance News. We are part of the Legal Services Affinity Group – the UK’s leading legal supervisors for anti-money laundering (AML). The group’s guidance has been updated and now approved by HM Treasury and includes information on the proceeds of crime regime. It also addressed the issue of your responsibilities regarding checking your clients’ source of funds, one of the issues we most frequently get asked about.

Paul Philip

Chief Executive

Checking clients’ source of funds

It’s important that you take a proactive and well-documented approach to understanding the origin of your clients' funds. Failing to do this can leave you exposed and at risk. To consider this we have published a range of information.

Anti-money laundering guidance for legal sector

The latest revision of the Legal Sector Affinity Group (LSAG) anti-money laundering (AML) guidance has been approved by HM Treasury and takes effect from 23 April 2025. LSAG is made up of all the legal AML supervisory bodies. Updates include changes to the proceeds of crime regime, a revised approach to due diligence on bodies corporate, and further guidance on source of funds checks.

Annual AML and sanction data collection

This year’s anti-money laundering (AML) and sanction data collection will take place in July. This impacts firms within scope of AML regulations, who will need to provide information about AML and financial sanctions activity and how you manage this. We will contact compliance officers with more information about what to expect and when.

Compliance Officers Conference 2025 - save the date!

Our highly successful conference will be returning on 21 October in Birmingham. Bookings will open in July. Its accompanying virtual conference will run November 3-6. For those of you who missed last year’s sessions, you can catch up via our on-demand facility.

Reminders about expert evidence in high-volume work

The Royal Institute for Chartered Surveyors has issued a practice alert to remind members of their obligations when providing expert witness services. Specifically, it mentions work in housing disrepair and other high-volume work. And MedCo has updated its guidance on examinations for personal injury claims. You might need to be aware of these updates.

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