On 31st July 2025 the threshold amount for submitting a defence against money laundering (DAML) has been increased from £1,000 to £3,000. Certain conditions need to be met. See below: In the context of the Proceeds of Crime Act 2002 (POCA), a DAML (Defence Against Money Laundering) is a mechanism that allows individuals and businesses […]
The SRA published this report on 31st July. Suprisingly it is written so as to be realtively easy to read. We recommend that all owners snd compliance officers of law firms do so. Here is a link to the document: https://www.sra.org.uk/sra/research-publications/aml-risk-assessment/ The document sets out information on money laundering, terrorist financing and proliferation financing risk […]
The situation seems to be quite complicated for Swiss lawyers. So, we have written this article to try to provide some clarity. We have also sought some clarification from the SRA, which has fed into our understanding, as explained below. Here's a link to a video we've put on YouTube about this: https://www.youtube.com/watch?v=EmB1oTcYVB8 Currently (2025) […]
The SRA were very careful to design the SQE route so that it fell within the government's Apprenticeship Scheme, certainly for England. We have posted information about this: https://hunningsconsultancy.co.uk/apprenticeships-the-sqe-how-this-can-save-you-money/ On 28th May 2025 the government published a press release in which they announced that, from January 2026, they would be 'refocusing' (which we take to […]
Update to the message below - 21.5.25 - we have been in further discussions. It appears that the information given out by their staff member was incorrect. The situation has NOT changed. They have stated to us today: " you just need to fill in the jurisdiction section in their mySRA profile and tell us […]
The Legal Sector Affinity Group (LSAG) guidance regarding compliance has recently been approved by HM Treasury and was published on 23 April. Please see a link below to where you may view and download the guidance. We are digesting this and will publish a summary of the main points. https://www.sra.org.uk/solicitors/resources/money-laundering/guidance-support Other AML Support We provide […]
We asked the SRA if the SQE2 exemption, once granted has an expiry date. We have been asked this several aspiring solicitors. They have written to us to say that it does NOT expire. Assistance with SQE2 Exemption Applications - Qualified Lawyers https://hunningsconsultancy.co.uk/sqe2-exemption-for-foreign-lawyers-review-advice/ External QWE Confirmation Service This is relevant to people who are NOT […]
The SRA commissioned an independent report to better understand the high-risk market developments that law firms identify and how they mitigate these, where relevant. Here is a link to the report: https://www.sra.org.uk/sra/research-publications/risk-legal-profession/ Firms were asked to select from a list the top 3 concerns as risk to the organisation over the coming year. The top […]
It seems that the SRA reviewed 25 law firms (we helped at least 1 of these through this). In general, they found that things were being done well. 21 of them had a written policy and/or procedure on how the firm would account to clients for interest on money held. (If you don't, we can […]
Italian lawyers who want to work inhouse have to de-register as avvocatos. It's a thing in the Italian jurisdiction. On the face of it, it would create a problem with them meeting the requirements for being able to apply for exemption from the SQE2 exam (part of the SQE route to qualify as a solicitor […]
