The article examines concerns raised by law firms and compliance advisers about the SRA’s new Rule 8.4, which is intended to separate significant management control from key compliance roles such as COLP and COFA. Critics argue the rule may be unclear, disproportionate and costly for smaller and mid-sized firms, particularly where it applies even to firms that do not hold client money.
A solicitor has been suspended for nine months after the Solicitors Disciplinary Tribunal found serious accounting and compliance failings at a sole practice, including unreliable books of account, missing reconciliations and continued operation of a client account despite known record-keeping problems. The SRA intervened, recovered client funds, and the tribunal also ordered costs and post-suspension practice conditions.
The article explains that lawful basis for processing personal data is determined once per purpose, not re-established for every AI interaction. It argues that firms should focus on documenting approved AI use and maintaining records that evidence accountability, vendor control and data flow, rather than treating each AI action as a separate compliance event.
The government has indicated that the Financial Conduct Authority will begin taking on anti-money laundering supervision for professional services firms by the end of 2028, with full onboarding expected by mid-2030. The transition is intended to be phased, risk-based and supported by consultation on the future fee model, while existing supervisors remain in place until the FCA assumes responsibility.
The Conveyancing Association has renewed its opposition to the Ministry of Justice’s proposed Interest on Lawyers’ Client Accounts (ILCA) scheme, arguing that the policy would impose additional costs on conveyancing firms and ultimately on home buyers and sellers. The association is also questioning the MoJ’s process after reports it is recruiting for a role linked to designing and implementing the scheme before publishing its consultation response.
An alliance of SME and boutique law firms is urging the Solicitors Regulation Authority to reconsider proposals that would separate COLP and COFA roles from individuals with unilateral management control in certain firms. The group argues the threshold and implementation approach are not sufficiently evidence-based and could create practical and cost pressures for smaller practices ahead of phased introduction from January 2027.
The Land Registry has updated Practice Guide 21, which covers how to prepare and complete transfer forms for complex or unusual transactions. The change clarifies that when multiple transfers are being submitted, separate applications must be prepared and lodged for each transfer.
The article discusses Bamboo Proptech’s defence of modern method of auction (MMoA), which it describes as a conditional auction built around transparency and trust. It outlines the process, including reservation fees, completion timelines and the circumstances in which fees may be refunded, amid criticism from conveyancers and others about disclosure and buyer protections.
The Law Society has criticised the SRA’s proposed changes to first-tier complaints handling, arguing they may add administrative burden without clear consumer benefit. The consultation follows record complaint volumes and concerns from the Legal Ombudsman about poor complaints handling in a significant share of cases, while the Law Society also highlights the growing impact of AI-assisted complaints.
CILEX has raised concerns about proposed increases to Legal Ombudsman fees, warning that a tiered charging structure could encourage firms to make unwarranted payments to complainants to avoid higher costs. The consultation also proposes stricter admissibility thresholds and new timing rules, while the Law Society has separately warned the changes could reduce confidence in the complaints process.
The article discusses the government’s home buying and selling reform consultation response and argues that earlier, more reliable information will improve the quality of conveyancing work. It highlights digital property packs, digital identity verification and reusable property data as enablers of a more transparent and efficient transaction process.
An independent review has found that the Solicitors Regulation Authority missed multiple opportunities to intervene earlier in relation to serious failings at PM Law Group. The report says the regulator held extensive intelligence but lacked the systems, processes and expertise to turn it into timely regulatory action, contributing to delayed intervention before the group’s collapse.
