Delighted to be able to announce that we've had our 1st client's QWE approved by the SRA - possibly the first anywhere. I've developed a service as an External Confirming Solicitor to help those Aspiring Solicitors who do not have a solicitor in their organisation to confirm the QWE. Here's a link to the service: https://hunningsconsultancy.co.uk/external-qwe-certification-service-2/
I've been working with a number of Aspiring Solicitors since September 2020, both in the UK & overseas. I've been liaising closely with the SRA as they published forms and clarified their process and procedure. A great relief to learn that what we've done has been approved.
If you have any questions or want more info then get in touch.
+447887 524507
Here are answers to questions raised at a recent webinar Ingemar Hunnings ran for Aspiring Solicitors about the SQE & QWE. These have come from the SRA. We hope they will be helpful.
1. Do you have anything that sets out the format of each exam and the expected plan for the day. For example, SQE 1 is 10 hours – it that over 1 day or two, how will the day run etc
We are planning to launch a website shortly which will have all the information on it. It will also have the booking system on it. I understand that the website will launch soon, but I don’t have a date from IT as to when it will go live. The booking system will go live a few weeks after that.
In the interim, we have published this information to help candidates plan for the assessments. This information will be moved to the new website, and at that point we may have more details and may expand it.
https://www.sra.org.uk/globalassets/documents/sra/sqe1-what-happens-on-the-day.pdf?version=4ae646
2. Does one have to take the exams in sequence SQE1 first & passed before you can take the SQE2?
Yes – SQE1 has to be taken and passed before sitting SQE2.
The other steps to qualification (degree or equivalent, QWE) can be done in any order, and can be done before, during or after taking the SQE assessments
3. QWE - does the Confirming Solicitor have to have a current practicing certificate?
No, they do not need to hold a current practising certificate. That is because, as they are still on the Roll of Solicitors, we can still enforce the principles of professional ethics which apply to solicitors when they confirm QWE, such as honesty and integrity. Our website confirms that they do not need to hold a current practising certificate at https://www.sra.org.uk/trainees/qualifying-work-experience/qualifying-work-experience-candidates/
4. May an aspiring solicitor self-study for the SQE 1 & 2 – if so, can you point me to any materials that would help them
Our list of providers includes publishers of self-study materials. The publishers listed include Bloomsbury, City Law Series, Oxford University Press and Routledge. We don’t keep details of what they are publishing – candidates should contact them direct for details.
5. Is there a url you may point me to where aspiring solicitors may go to register for the exams (with Kaplan I assume). Do they pay through that as well?
That will be on the new website. The best way candidates can get notification is to subscribe to the SQE Update alerts, which will send them notification when booking live. The new website will also handle payment.
6. Overseas exam centres – I believe that Pearson Vue centres will be viewed, but I cannot find any detail on the SRA websites on this or how or where oversees aspiring solicitors can go to check this and book a centre (important as they may have to travel a long way still to get to a centre
Kaplan are still finalising venues with Pearson Vue. Currently, we know that the UK venues are planned to include London, Cardiff and Manchester, but we don’t yet have any details on the overseas venues. As soon as we have the details, we will publish them, and they will be listed on the new website. All the information we currently have is set out at https://www.sra.org.uk/students/sqe/sqe-assessments/#collapse_01fd
Making sure you are complying with the Solicitors Accounts Rules is a constant worry for law firm owners. If you are a small solicitors firm, when do you need to start having your Client Account Audited?
If you want to ask further questions then feel free to contact us. Our resident expert on the Solicitors Accounts Rules is Ian Johnson who is the current Chair of the ILFM and Vice Chair of the ICAEW Solicitors Advisory Group which issues guidance to all Reporting Accountants. He is also an accountant with a track record at KPMG, and director at Hazlewoods and Saffery Champness. He is also an expert on anything relating to Law Firm Finance.
If you need to find an account who has expertise in handling the accounts for solicitors firms and doing the Client Account Audit, then we can help with a recommendation.
Contact us: Ingemar: 07887 524507 or [email protected]
Or fill in the Contact Form below.
While you're here why not have a look at the top of this page of our website for our other services. We provide a 'One-Stop-Shop' for Business Support for Law Firms. Everything to allow a busy partner to get on with their client work.
This blog has been rewritten because the method for doing this has been changed by the SRA. No longer do you use the pdf form which they used to require.
Here is a link to a podcast if you prefer to listen to what to do: https://anchor.fm/ingemar9/episodes/How-to-register-your-QWE-with-the-SRA-SQE-route-e1dpjk3
Instead log onto your 'MySRA' account on the SRA website. From there you will see something like 'Notify us of your QWE'. You will need to write in the period of QWE you wish to have confirmed, the name of the organisation where you did the QWE, the name of the solicitor who will confirm the QWE to the SRA and their SRA reference number.
This will prompt the SRA to email that solicitor to ask them to confirm your QWE.
They will be asked to confirm:
"I confirm that in accordance with the SRA Authorisation of Individuals Regulations, the applicant has completed a period of qualifying work experience and:
Here is a link to a short podcast with info if you prefer to listen:
Or visit this page on the SRA website: candidate pages.
But there is no definitive definition. It is up to the judgment of the Confirming Solicitor. It is best to ask them.
We can help. Our lead consultant, Ingemar Hunnings, (SRA No. 156976) provides a service as an External QWE Confirmation Solicitor. Find more information here:
If you are an Aspiring Solicitor: https://hunningsconsultancy.co.uk/external-qwe-certification-service-2/
If you are an employer: https://hunningsconsultancy.co.uk/qwe-external-confirming-solicitor-service-for-employers/
There is quite a lot of resource for Aspiring Solicitors about the SQE & QWE on this website.
For information about the SQE see here: https://hunningsconsultancy.co.uk/the-new-sqe-exam-and-qualification-method/
Here is information on SQE Training Providers with their current charges for the training: https://hunningsconsultancy.co.uk/sqe-training-providers/
Fill in the form below
or by phone to Ingemar Hunnings: 07887 524507
or email: [email protected]
On 24th March 2021 the UK Government published it's annual survey of UK businesses, charities and education institutions as part of the National Cyber Security Programme. The findings help these organisations to understand the nature and significance of the cyber security threats they face, and what others are doing to stay secure. It is an official government statistic. It was carried out by Ipsos MORI.
It covers:
Below is an infographic summarising the findings.
Cyber_Security_Breaches_Survey_2021_Business_Infographic
Here is a link to the official report: https://www.gov.uk/government/statistics/cyber-security-breaches-survey-2021/cyber-security-breaches-survey-2021#fn:1
We can help you get the basic level: Cyber Essentials, or the next 2 levels up: Cyber Essentials plus or IASME. We also offer a DPO Service, where you can buy in time with our Data Protection Officer who will work with you on how you handle your data and liaise between you and the ICO, for example if there is a Data Breach. https://hunningsconsultancy.co.uk/dpo-service-data-protection-officer/ We can also help you with a local representative for GDPR in the EU if you are trading with them of in the UK if you are company wanting to trade in the UK.
Contact Ingemar on: 07887 524507 or [email protected]
Current The Goal
I could stop with the diagram and invite people to ‘Discuss’ like in an exam question – if I was being cheeky. But I won’t. I’ll unpack this. It’s something I’ve been thinking about over the last couple of years or so. I think that it has pretty universal application to business but I’ll have a focus on professional services and in particular solicitors firms.
My thoughts have arisen from analysing my own businesses. I run a management consultancy providing Business Support for Law Firms and other Professional Services businesses. A sort of ‘One-Stop-Shop’ for the busy partner, so they may get on with doing the client work. Before that I practiced as a solicitor for 24 years, 14 of which as an Equity Partner. I sat on the Board and ran a department of 60 staff.
For lawyers most fees are generated through transactional work. Indeed, most professional services businesses, my own included, generate most of their fees this way. The client instructs you to do a job for them, you agree a price, do the work and invoice them. You might invoice them before you do the work (or receive money on account) or at stages during the work or at the end on delivery. That’s good. You have a trading business. That is how most law firms operate and they do so very successfully. That’s how most businesses operate - mine included. No problem with this – except that income is not so predictable. When setting budgets, you’re doing so on the presumption that things will be as they were last year. Some matters might be long-running (for example litigation) and so, if you know the end date, you might be able to predict some income in the coming year. However, that’s still transactional work. It also doesn’t add much to the value of the business, for example when valuing it to sell.
Recurring work is one step better. It’s Transactional Work, but Recurring Transactional work. That gives a level of predictability. Accountants have the annual audit, accounts and recurring tax work, which would fall into this category. It can give you a base income for your business that you are fairly confident will be generated, because all things being equal, the client will instruct you to do this work on a recurring date. Solicitors firms don’t manage to craft much of this type of work. An example where they have is with Employment Law, where they might carry out an annual audit of contracts and operating records. If solicitors were able to be more creative it would give a bit more certainty to budgeting and income. It would involve them getting closer to their clients. It would seem to me that there are opportunities in Corporate, Commercial and Health & Safety areas to mention a few. In my business, I’ve been able to generate some compliance packages that operate on a recurring basis: a monthly COFA & COLP Review and external file reviews carried out for some firms. Another example is that some firms ask me to train new starters on their LEAP Case Management System (really a hybrid between transactional and recurring) or to do an annual review on LEAP or Proclaim usage, update of changes and revision on best use. That is true recurring work.
Retained Work – what do I mean by this? You have a retainer which the client pays to cover work that you will do within the agreed price, paid at agreed intervals (quarterly, yearly etc). Normally there is no end date other than termination of the contract. Income is guaranteed unless the contract is terminated. This is great for predictability of income. It also gives some solidity to allow for valuation of the business. Of course, you need to evaluate and define carefully the work that would be included in the price and price the contract so you don’t end up doing the work at a loss or suffer from mission creep. (Don’t forget that defining work at the outset doesn’t always translate into what you end up doing, especially where the work is complex, and so a proper periodic review may be required to deal with situations where the goalposts are moving.) I’ve seen retainers created for Employment Work. There are some large non-legal firms (Peninsular for example) doing this. Many employment firms or employment departments have followed suit. Once you have a set price this should drive a focus on how to deliver to the best standard and at the lowest cost of production so as to maintain or drive up profit. I’ve worked recently with a couple of small commercial solicitors firms where the majority of their work is done on a retained basis. It gives them great predictability. It does so also for their clients. That is a good selling point not to be under-estimated. Your client might welcome such a discussion. I have been able to develop some services offered on a retained basis. Our OPM Service (Office Procedures Manual) has a recurring annual fee paid by monthly instalments for which the firm gets an up-to-date OPM with quarterly updates which is maintained up to date by us. We are on a general Compliance Advice Retainer with some firms. This is a sort of hybrid with Transactional Work. The client requests our assistance at an agreed rate. We record the work and time spend and invoice every quarter. The retainer remains in place unless and until it is terminated.
Passive Income – the Holy Grail of fees. The money comes in while you sleep. All of the above methods require ongoing effort to generate the income. Passive income typically requires up-front effort to establish and crystalise the opportunity, but then no additional effort to harvest (other than invoicing, which should never be regarded as a chore in my opinion). You then have real value in the business which could be capitalised and sold. I would venture to advise that all business owners should invest significant time and effort in thinking how they can create and generate Passive Income. In my experience it is very seldom achieved in law firms. Some could be generated, and I would welcome the ability to work with Managing Partners to see how this could be done in their businesses. It is a strategic aim to do so for my business. I now track how much is generated this way each month and look for opportunities for how to add to this. It is an old adage ‘What gets Measured Gets Done’. I know there is criticism of this statement, but I still think there is a lot of value in it. By measuring it you maintain focus and track progress. I have to maintain balance. Building Passive income is often a long-term project that I hope will harvest sustainable passive income in the future. I have to balance the time and effort devoted to this against the other 3 methods of earning income which puts bread on the table NOW.
An Additional thought re Passive Income
Thinking some more about this, one could sub-divide Passive Income as follows:
a) Recurring Passive Income: a regular amount that will come in and
b) Variable Passive Income: the amount varies (for example: royalties or fees from training videos watched).
My Fees Pyramid is currently the traditional one, with Passive Income as a small pointy bit at the top. My AIM is to invert the Fees Pyramid. I may never achieve it, but any progress towards it strengthens my business and makes it more sustainable and drives sustainable value.
Food for thought.
Ingemar Hunnings is lead consultant at HCL a management consultancy providing Business Support to Law Firms, in-house legal departments and other organisations Everything to allow a busy partner get on with the client work. Previously he practiced as a solicitor for 24 years, as an equity partner for 14 years and ran a department of 60 staff. Since setting up his consultancy in 2014 HCL has worked with over 400 businesses.
Contact details: https://hunningsconsultancy.co.uk/ 07887 524507 & [email protected]
There is a lot of information in this guidance. It is pretty comprehensive. We do not seek to reproduce it all here but just to highlight the main principles and offer some assistance. There is a link at the end to the full guidance. They state quite openly that following this guidance will not be a defence to prosecution, but it is our view that if you can demonstrate that you are following it is firstly likely to reduce dramatically the likelihood of something going wrong and secondly it is likely to sound loudly in mitigation.
Published by the Law Society on 20th January 2021. Designed to support legal professionals and firms in complying with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended) and reviewed and redrafted after the EU's 5 Anti-Money Laundering Directive. It is currently with the Treasury for approval, but we cannot imagine that the Treasury will water it down.
Practices must have:
Here is a link for the full guidance: https://www.lawsociety.org.uk/topics/anti-money-laundering/anti-money-laundering-guidance
Contact us: Ingemar Hunnings 07887 524507 or [email protected]
[contact-form to="[email protected]" subject="HCL Website Enquiry"][contact-field label="Name" type="name" required="1"][contact-field label="Email" type="email" required="1"][contact-field label="Message" type="textarea"][/contact-form]
The SRA have published the dates for the SQE exams. You will need to register with Kaplan by the deadline to obtain your candidate number and pay your fee to be able to sit each exam. SQE1 & SQE2 written exam will take place at Pearson VUE test centres in the UK and internationally. The SQE2 oral exam will take place in Cardiff, London & Manchester.
See below for the link to the main SRA website to register & book the SQE.
(External QWE Confirmation Service - see below for info)
Bookings will close approximately five weeks before the assessment sitting.
They expect results to be published within 6 - 10 weeks of the exam.
SQE1 involves around ten hours of examinations, while SQE2 is around 14 hours.
SQE1 is sat over two full days and tests you on your legal knowledge.
SQE2 is sat over five half days and tests you on the application of that knowledge and your skills to real life scenarios.
(If you need help getting QWE confirmed click here.)
(Here is a link to our YouTube channel. On there you will find many videos explaining about the SQE, QWE and applying for exemptions from the exams. Also full videos of webinars we have delivered with info about this & the Q&A session that follows the talk. If you think this might be helpful, might we invite you to subscribe so it reaches more people?)
2026
January
FLK1: week commencing 12th January 2026
FLK2: week commencing 19th January 2026
Bookings open - Cosed
Bookings close - Closed
Results due: 10th March 2026.
July
FLK1: week commencing 13th July 2026
FLK2: week commencing 20th July 2026
Bookings open - TBA (10am)
Bookings close - TBA (5pm)
Results due: 8th September 2026
2027
January
FLK1: week commencing 11th January 2027
FLK2: week commencing 18th January 2027
Bookings open - TBA
Bookings close - TBA
Results due: TBA
July
FLK1: week commencing 12th July 2027
FLK2: week commencing 19th July 2027
Bookings open - TBA
Bookings close - TBA
Results due: TBA
General Pattern: It would appear that the SQE1 exams will be sat either in January or July each year. It looks like the exams will be run on 2 occasions a year.
The Candidate Services Team will only be able to help candidates with queries relating to booking if they are logged in to their candidate account. To book a place, candidates must have first completed the registration and pre-booking processes. If they need any reasonable adjustments they should make the request as early as possible as part of their pre-booking steps.
How? Here is a link to the SRA web page for Booking & Paying: https://sqe.sra.org.uk/registering-and-booking/booking-assessments
Where? Pearson VUE locations (UK & internationally).
You only need to attend one of the oral assessments, which, subject to availability, you can choose.
2025
October
Bookings dates: Closed.
Overall the exams ran from 30th October & finishing 14th November 2025.
Written:
The written assessments took place 4th - 6th November 2025 in the Pearson VUE centres.
Oral:
The oral assessments were in Cardiff, London & Manchester.
First sitting: 30th-31st October, Second sitting: 11th-12th November and Third sitting: 13th-14th November 2025.
Results due: 24th February 2026
2026
January
Bookings dates: Open until 11th December 2026
Overall the exams run from 27th January & finishing 6th February 2026.
Written:
The written assessments take place 27th - 29th January 2026 in the Pearson VUE centres.
Oral:
The oral assessments will be in Cardiff, London & Manchester.
First sitting: 3rd-4th February, Second sitting: 5th-6th February 2026.
Results due: 21st May 2026
April
Bookings dates: Open - Close on 20th March 2026
Overall the exams run from 28th April & finishing 15th May 2026.
Written:
The written assessments take place 28th - 30th April 2026 in the Pearson VUE centres.
Oral:
The oral assessments will be in Cardiff, London & Manchester.
First sitting: 5th-6th May, Second sitting: 7th-8th May, Third sitting: 12th-13th May, Fourth sitting: 14th-15th May 2026.
Results due: 27th August 2026
July
Bookings dates: TBC
Overall the exams run from 28th July & finishing 7th August 2026.
Written:
The written assessments take place 28th - 30th July 2026 in the Pearson VUE centres.
Oral:
The oral assessments will be in Cardiff, London & Manchester.
First sitting: 4th-5th August, Second sitting: 6th-7th August 2026.
Results due: 17th November 2026
October
Bookings dates: TBC
Overall the exams run from 27th October & finishing 11th November 2026.
Written:
The written assessments take place 27th - 29th October 2026 in the Pearson VUE centres.
Oral:
The oral assessments will be in Cardiff, London & Manchester.
First sitting: 3rd-4th November, Second sitting: 5th-6th November, Third sitting: 10th-11th November 2026.
Results due: 23rd February 2027
The SRA asked candidates to ensure that they followed steps 1 and 2 in their SQE candidate account. Candidates should refer to My SQE overview within their account for full details and explanation. If you need a reasonable adjustment you do not need to wait to contact Kaplan.)
Here is the url to book your assessment via the SRA website: https://sqe.sra.org.uk/booking/booking-sqe-assessments
Oral Assessment Locations:
Cardiff
Mercure Cardiff Holland House Hotel and Spa
24 26 Newport Rd, Cardiff CF24 0DD
London
Royal College of General Practitioners
30 Euston Square, London NW1 2FB
Manchester
Macdonald Hotel
London Road, Manchester M1 2PG
2 attempts in addition to the original attempt. All the resits have to be taken within 6 years of the initial attempt. You may resit the SQE 1 Functioning Legal Knowledge assessment 1 and/or SQE Functioning Legal Knowledge assessment 2 and/or SQE 2. You’ll have to pay the whole fee for the exam you’re sitting. After 3 attempts you have start again. Our understanding is that is that you will have to sit everything again as if starting from the beginning.
Link to further info: https://sqe.sra.org.uk/exam-arrangements/results-and-resits
The main SRA site for registering & booking the SQE Exams is here:
https://sqe.sra.org.uk/registering-and-booking
Here's a link to further info about how to register for the SQE: https://hunningsconsultancy.co.uk/sqe-registration-bookings-now-open/
External QWE Confirmation service
We have blogged extensively about QWE and invite you to visit some of the blogs. URLs are listed below.
Should you not have a solicitor who can 'Confirm' your QWE then WE CAN HELP.
Here’s a link to our External Solicitors Confirmation Service: https://hunningsconsultancy.co.uk/external-qwe-certification-service-2/
For information about the SQE see here: https://hunningsconsultancy.co.uk/the-new-sqe-exam-and-qualification-method/
For information about Training Providers: https://hunningsconsultancy.co.uk/?s=sqe+training
SQE2 Exemption Applications
We have also helped many people with this. Here is a link to more info about this (only available to Foreign Qualified Solicitors)
Fill in the form below or
contact Ingemar on: 07887 524507 or [email protected]
We offer a free zoom to talk through your questions. As far as we are aware, Ingemar is currently the only solicitor offering a service as an External Confirming Solicitor. He has successfully helped several aspiring solicitors have their QWE accepted by the SRA, including, we are fairly confident, the very first in April 2021
(N.B. Remember there is also a £4,115 cost of taking SQE1 and 2 exams themselves.)
We have been asked by several Aspiring Solicitors where they can find a list of providers of training for the SQE. So, we have done a bit of spade work to bring together in this blog what we can find. Please do not regard this as the definitive source of data – but we hope it will be a helpful resource for you.
We understand that some of the larger law firms will be offering to provide the SQE training internally. We understand that some universities will be offering to cover SQE preparation in their courses. Several will be offering a separate SQE preparation course. As there are so many and they can be found from the SRA List below we have not put details here.
Some firms will avail themselves of the ability to offer Solicitor Apprenticeships, where the government will cover the SQE preparation fees and the exam costs - see here for more info: https://hunningsconsultancy.co.uk/apprenticeships-the-sqe-how-this-can-save-you-money/
SRA List
The SRA has a list of SQE Training Providers who have registered to use the SRA trademark so far. That does not mean that they will actually provide training. The SRA wrote that details of further providers will be added in due course. Here is a link to the list. It is just a list and when we checked many of the links to websites did not work. Very few seem to have published what fees they will charge.
https://www.sra.org.uk/students/sqe/training-provider-list/
Australian. Self-Styled Disrupter
Offering on-line training at low prices. Will not be part of the Apprenticeship Scheme.
As reported in the LS Gazette in Feb 2021: “The college has designed a range of virtual programmes, a SQE1 preparation course costing £1,800 and a SQE2 preparation course costing £2,300. These are two of three core learning areas, the other comprising legal skills modules, which can be taken in isolation or grouped together as part of a Master of Laws (LLM) in Legal Practice. The SQE programmes are available as a 12-week full-time course or a 20-week part-time course.” Pricing for 2025 seems to be £4,500 - £4,900 for SQE1 & 2.
https://www.collegalpractice.com/sqe
A provider from the USA. Plan to be part of the Apprenticeship Scheme.
Were the first to enter the market. They offered the preparation training for both the SQE1 & 2 at a cost of about £6,000.
As their name suggests, they come from a background specialising in helping foreign lawyers from various countries around the world to qualify as solicitors in England and Wales (Qualified Lawyers Transfer Scheme). As the SQE exam is based to a large extent on the old QLTS scheme, this gives them many years of expertise in preparing candidates for this types of exams. They also offer free Mock Tests: FLK1, FLK2 & SQE2.
They have stated that they will prepare students, paralegals, apprentices and foreign qualified lawyers for SQE1 & 2 with a cost between £4,000 and £6,000, depending upon options chosen.
The traditional provider that for older solicitors was the College of Law. Part of the Apprenticeship Scheme.
The University of Law has developed an LLM Legal Practice course costing between £14,000 and £18,800.
https://www.law.ac.uk/study/postgraduate/sqe/courses/
A Kent based Legal Training company.
Fees for SQE1 & 2: £4,900. The provider is also offering a discount for students who have completed the Legal Practice Course or an undergraduate degree.
Recognised providers of training courses to the legal profession. SQE1 & 2 £13,400 if out of London or on-line or £15,800 if in London.
https://www.bpp.com/courses/law/postgraduate/sqe
Also provide CiLex Training. Only providing SQE1 prep for the moment (summer 2022). Cost: between £2,500 & £3,000. S
https://brightlink.org.uk/sqe/#1646675255913-3dd6e956-90f9
Previously a provider of QLTS OSCE training and now offers preparation for both the SQE1 and SQE2. They offer 1-to-1 SQE2 mock simulations with personalised feedback, priced at £120 each. Additionally, they provide SQE law and skills pre-recorded lectures at a cost of £35 each, along with revision live lectures priced at £25. These law lectures are specially designed for non-native speakers and include concise and structured notes. Option to purchase a discounted package, with the SQE1 and SQE2 package priced at £3,439. Alternatively, services can be purchased standalone.
They say they provide coaching to help candidates prepare for SQE2 in an affordable and flexible way. We cannot see pricing from the website. We were made aware of this by a candidate in Dubai who thought they focus on people in the Middle East, although there is no mention of that on the website. They seem just to focus on prep for the SQE2 exam, not SQE1.
Provides SQE training and preparation. Live SQE Prep Courses – Full coverage of SQE1 & SQE2, structured and interactive. Revision Masterclasses – Intensive weekends. Webinars – Deep dives into tricky areas like Taxation, Wills and Intestacy. Mock Exams & MCQ Practice. Led by Dr. Schatz is an experienced legal educator. Pricing: £2,397 for SQE1 course; £2,397 for SQE2 course.
https://www.sqewithdrschatz.com/
We have blogged extensively about QWE and invite you to visit some of the blogs. URLs are listed below.
Should you not have a solicitor who can 'Confirm' your QWE then WE CAN HELP.
Here’s a link to how: https://hunningsconsultancy.co.uk/external-qwe-certification-service-2/
For information about the SQE see here: https://hunningsconsultancy.co.uk/the-new-sqe-exam-and-qualification-method/
Here is a link to our YouTube channel. On there you will find many videos explaining about the SQE, QWE and applying for exemptions from the exams. Also full videos of webinars we have delivered with info about this & the Q&A session that follows the talk. If you think this might be helpful, might we invite you to subscribe so it reaches more people?
Fill in the form below or feel free to contact Ingemar on: 07887 524507 or [email protected]
We are honoured to have been invited to attend an AML Roundtable meeting called by the SRA where they intend to discuss their findings from the first 74 firm AML audits that they have carried out (Sept 2019 to Oct 2020). They learned that there were a number of consultants assisting firms to be compliant. They have invited representatives of those consultants to contribute "with the aim of ensuring standards, driving consistency and ultimately assisting in the prevention of financial crime." "The idea is to share our expectations, discuss challenges and start a dialogue."
Below is a summary of the SRA findings.
We are a supervisory authority under The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ("the regulations"). We have a role in checking firms are complying with the regulations and ensuring they have effective AML policies controls and procedures in place.
To help fulfil this, in 2019 we began an ongoing programme of firm reviews.
We looked at the firms' approaches to preventing money laundering in 10 key areas. In each area we have outlined what the regulations say, our expectations, what we found, good practice and areas for improvement.
From September 2019 to October 2020, we visited 74 firms to review their AML policies and procedures and to see how these were being applied on a sample of the firm's files. We are grateful to the firms we visited for their time and insight into their work to prevent money laundering, particularly when the Covid-19 pandemic has disrupted work across the sector.
Overall, we found that the areas needing the most work from firms were:
The firms we saw were, for the most part, united in their determination to keep the proceeds of crime out of their client accounts, and we were able to assist many of them in meeting their obligations.
We saw a mixture of good and poor practices, but generally it was clear that in most practices there was a will to prevent money laundering and to comply with the regulations.
Audit was a particular matter of interest. While firms generally had an understanding that they needed to keep their policies, controls and procedures updated, a number of firms failed to monitor their effectiveness.
When reviewing firms' files, we found that in a large number there were differences between policies, procedures and what the money laundering compliance officer (MLCO) said should have happened, and what actually happened on the ground. This was often because the fee earners were not following procedures, something that could have been identified and rectified sooner if a compliant audit had been carried out.
Where we referred firms for further investigation, this was because what we saw suggested a systemic lack of compliance such as:
This document should act as a guide to other firms on how they should approach the areas we now understand firms are unsure about.
Here is a link to the full report: https://www.sra.org.uk/globalassets/documents/sra/research/anti-money-laundering-aml-visits-2019-2020.pdf?version=4ada2c
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