SRA issues November 2025 update outlining AML supervision reforms
The Solicitors Regulation Authority (SRA) has published its November 2025 monthly update, announcing that its new Chief Executive, Sarah Rapson, has officially taken up her post and outlining key priorities from its 2025/26 Business Plan. The update notes that the UK government has announced plans for the Financial Conduct Authority to become the single professional services supervisor for anti-money laundering (AML) and counter-terrorist financing, with a consultation now open on implementation. The SRA also noted that potential AML breaches nearly doubled over the past year, as detailed in its latest 2025 AML report. In addition, the SRA announced a webinar scheduled for 11 December 2025 to discuss an upcoming consultation on proposals to strengthen client money protections in legal services, covering potential changes to the accountants’ reports regime and compliance officer roles. A discussion paper on high-volume claims operations remains open for feedback until 14 November 2025, examining issues such as potential restrictions on the use of ‘no win, no fee’ terminology. The update also references a Legal Services Board report reviewing the SRA’s handling of SSB Law Group Ltd, for which the SRA has accepted recommendations to address the identified shortcomings.