About Conveyancing, published by Simon Seaton, focuses on legal issues surrounding conveyancing with a particular emphasis on anti-money laundering (AML) compliance within property transactions. The blog covers regulatory requirements for law firms, including client due diligence, risk assessments, and the role of the Solicitors Regulation Authority (SRA) in enforcing AML standards. It discusses the challenges law firms face in maintaining compliance, the importance of independent AML audits, and the consequences of regulatory breaches such as fines and investigations. The content also addresses the impact of market conditions on compliance practices and offers guidance on managing AML risks effectively in conveyancing.
As the legal sector marches toward May 2026, a new regulatory hurdle is appearing on the horizon: Mandatory HMRC Registration for Tax Advisers.
While this might sound like a simple administrative update for accountants, there is a hidden dependency that…
For many firms, the Firmwide Risk Assessment is a document that sits in a digital drawer, updated only when the SRA sends a nudge. But as we move through 2026, the regulatory landscape has shifted. The Money Laundering and Terrorist…
So far in 2026, SRA AML audits have continued to unleash a wave of Regulatory Settlement Agreements (RSAs), signaling a zero-tolerance approach to static, generic, or missing Firmwide Risk Assessments (FWRAs).
The Cost of Non-Compliance
In the first quarter…
The conveyancing sector is seeing a shift in how LMS manages the HSBC conveyancing panel especially for the firms who have been trough an SRA AML Audit.
As one MLRO recently shared with me:
“As a result of the…
5 Immediate Actions for Law Firms Following a Reg 21 Independent AML Audit
You’ve just crossed the finish line of your Regulation 21 Independent AML Audit. The report is in your inbox, and the temptation to file it away…
According to recent insights from the Legal Ombudsman (LeO), much stress in conveyancing doesn’t actually come from the legal work itself, it comes from a “misalignment of expectations.”
Recent data shows that residential conveyancing complaints now account for 36% of…
If you are a CQS-accredited firm still relying on a “standard” Client Care Policy, there is a problem. It is no longer enough.
The CQS Client Care Policy is no longer a tick box document. It is a live compliance…
For CQS-accredited firms, a “standard” purchase of leasehold policy is no longer enough. To survive an independent CQS compliance audit your Leasehold Purchase Policy must be a dynamic document that evolves alongside breakneck legislative shifts.
If your leasehold policy hasn’t…
Most firms today rely on slick AML tools to handle ID checks and source-of-wealth. Platforms like Thirdfort and CDDmonitor (digital CMRA) have quickly become the norm. But the rules have changed. Recent HM Treasury guidance and LSAG advisory notes have…
The “Report on Title” has always been a cornerstone of client communication. However, a significant shift is occurring in how we report on one of the most sensitive areas of a transaction: Source of Funds (SoF).
The days…
