The Law Society has responded to the Department for Science, Innovation & Technology’s call for evidence on the AI Growth Lab, stressing the need for a proportionate regulatory approach that supports innovation while maintaining professional standards. In a press release dated 6 January 2026, the sector’s widespread willingness to embrace lawtech was highlighted, with two-thirds of lawyers said to ‘already use AI tools in their work’, alongside an ongoing uncertainty as to the risks and ‘exact requirements for data security, oversight and liability’. Separately, The Law Society’s ‘Introduction to lawtech’ guide published on 29 December 2025 observed that client demand for ‘greater efficiency, transparency and cost control, especially in corporate legal services’ has been a key driver for AI usage, with larger firms leading adoption and medium-sized firms catching up. The Law Society says it will continue to work with the government to ensure AI benefits both firms and clients, with its strategy focused on the following three key outcomes: i) innovation in legal service delivery; ii) an effective AI regulatory landscape, influenced by the legal sector; and iii) integrity through responsible AI use, supporting the rule of law and access to justice. Links to consultation responses and downloadable submissions on a range of AI-related issues, including data processing, ransomware resilience and the use of AI outputs in criminal proceedings (among others), are included on The Law Society’s ‘AI and lawtech: government policy and regulation’ page (updated on 18 December 2025), which also invites members to share their views and identify any gaps in support or guidance.

The Law Society’s Conveyancing Protocol (2019) (the Protocol) sets out the Law Society’s preferred practice in residential conveyancing transactions. It aims to make the residential conveyancing process more efficient and consistent. There are two parts to the Protocol: • the general solicitor obligations, and • the Protocol framework These are considered in more detail below. For further guidance on managing residential conveyancing transactions, please see: Residential conveyancing—selling a registered freehold property—checklist and Residential conveyancing—buying a registered freehold property—checklist. Which transactions does the Protocol apply to? The Protocol is intended for use in a residential sale and purchase transaction for an owner occupier. It is assumed that the buyer’s and seller’s solicitors will also act for their clients’ respective lenders. It is not intended for use with the purchase of new build homes. Conveyancing Quality Scheme (CQS) accredited solicitors must use the Protocol (there are exceptions in certain circumstances such as client instructions and changes to the law). Non-CQS accredited conveyancers are not obliged to use the Protocol but it is considered

Property analysis: The Law Society is consulting with conveyancers on a new draft code for signing and exchanging property contracts. See: LNB News 02/11/2023 49.

Property analysis: Marking its centenary, the Law of Property Act 1925 remains a cornerstone of property law in England and Wales. In this article, Rebecca Mitchell and Camilla Brown of Collyer Bristow explore the reforms that revolutionised land transactions, their enduring impact, and the case for modernisation in today’s evolving real estate landscape.

The Leasehold and Freehold Reform Act 2024 (LFRA 2024) received Royal Assent on 24 May 2024, prior to the prorogation of Parliament. The Department for Levelling Up, Housing and Communities (DLUHC) confirmed this in a Press Release summarising the main provisions.

Corporate Crime analysis: In April 2025, the Legal Aid Agency (LAA), a cornerstone of the UK’s justice system, became the latest victim in a growing wave of cyberattacks targeting both public and private institutions. The breach, which the Ministry of Justice (MoJ) later confirmed, involved the theft of a ‘significant amount’ of sensitive personal data—including information relating to domestic abuse victims, individuals involved in family law disputes, and those facing criminal prosecution. The scale of the breach is staggering; more than two million pieces of data were reportedly accessed, with records dating back to 2010. This incident is not isolated. It follows closely on the heels of cyberattacks on major UK retailers such as Marks & Spencer, Harrods, and the Co-op, all of which suffered operational disruptions and financial losses. But the LAA breach is particularly alarming due to the nature of the data involved and the vulnerability of the individuals affected. It raises urgent questions about the resilience of public sector digital infrastructure and the broader implications of cybercrime in an increasingly interconnected world. Written by Charlotte Hill, Partner at Penningtons Manches Cooper LLP.

Restructuring & Insolvency: Over 14 years after the UK Lehman Brothers companies first went into administration, several Lehman companies have successfully applied for further extensions to their administrations for periods ranging between 18 months and three years. The statutory period for administrations is one year, unless extended by the court. It is very unusual for companies to remain in administration for as long as the Lehman companies have and the extension applications were carefully scrutinised, bearing in mind the length of the proposed extensions sought and what has gone before. However, the judge was careful to note that they needed to be viewed in ‘the context of the success of the processes’, a point which has been made previously by judges in relation to the UK Lehman administrations. Written by Rosanna Foskett, barrister at Maitland Chambers.

ARCHIVED : This archived Practice Note covers Lifetime ISAs, including their legal framework and key characteristics. It is not maintained. What is the Lifetime ISA? The Lifetime ISA was made available from 6 April 2017 to adults under age 40. It allows individuals to save up to £4,000 per annum and receive a bonus equal to 25% of that amount from the government. Savings from a Lifetime ISA can be used to buy a first home or be withdrawn tax free after age 60. For further information, see Key aspects of the Lifetime ISA, below. In Budget 2025, the government announced plans to replace the Lifetime ISA with a new product aimed at first time buyers only. It will remain possible to open a Lifetime ISA until the new product is launched, and existing account holders will be able to keep saving into their Lifetime ISA indefinitely. Factors which led to the creation of the Lifetime ISA Successive UK governments had long proclaimed the importance of encouraging long-term savings both within and

ARCHIVED: This archived Practice Note summarises the main proposals made by the European Commission’s High-Level Expert Group in its report on structural reforms to firms in the banking sector (the Liikanen Report), which it presented to the Commission on 2 October 2012. The Commission decided to withdraw its proposed regulation based on the Liikanen Report in July 2018 as its purpose had in the meantime to a large extent been achieved by other measures, including the Financial Services (Banking Reform) Act 2013. For more information, see Practice Note: UK structural banking reform—ring-fencing. This Practice Note is for background purposes only and is not maintained. The European Commission's High-Level Expert Group (HLEG) was set up in February 2012 to consider possible structural reforms to the EU's banking sector. Erkki Liikanen, Governor of the Bank of Finland at the time, was appointed chairman. The HLEG’s mandate was to determine whether financial stability, efficiency and consumer protection would be assisted through implementing structural changes as well as ongoing regulatory reforms. The HLEG held a

ARCHIVED: This Practice Note has been archived and is not maintained. A significant restructuring of the UK listing regime came into effect on 29 July 2024 which included the removal of the premium and standard listing segments and the creation of a single listing category for equity shares in commercial companies, as well as other listing categories based on company and security type. A new UK Listing Rules sourcebook came into force to implement the changes and the previous Listing rules sourcebook was revoked. For further information see Practice Note: Reform of the UK listing regime—fundamentals. This Practice Note reflects the listing regime prior to 29 July 2024 and has been retained for reference purposes. The Listing Principles (Listing Principles) and the Premium Listing Principles (Premium Listing Principles) (together the Principles) are contained in chapter 7 of the Listing Rules (LR) published by the Financial Conduct Authority (FCA). The Principles overarch the LR, the Disclosure Guidance and Transparency Rules (DTR) and the corporate governance rules, and, like other provisions

This Practice Note focuses on the Listing Principles contained in chapter 2 (UKLR 2) of the UK Listing Rules (UKLR) sourcebook published by the Financial Conduct Authority (FCA). It also provides a summary table of disciplinary actions brought by the FCA against listed companies for breaches of the Listing Principles (in conjunction with actions for breaches of specific rules). The Listing Principles overarch the rules which relate to the wider listing regime, namely: • the UKLR • the disclosure requirements in articles 17, 18 and 19 of the UK Market Abuse Regulation (disclosure requirements) • the rules relating to notification and dissemination of information and major shareholdings in the Disclosure Guidance and Transparency Rules (DTR) (transparency rules), and • the corporate governance rules in DTR 1B, DTR 4 and DTR 7 (corporate governance rules) The Listing Principles are a general statement of the fundamental obligations of listed companies and were introduced with the aim of ensuring adherence to the spirit (as well as the letter) of the rules comprising the wider listing regime

This Practice Note looks at the recommended form of single currency term facility agreement for pre-export finance transactions incorporating term SOFR (the ‘PXF Document’) published by the Loan Market Association (the ‘LMA’) as a template document for documenting pre-export finance transactions. What is pre-export finance (PXF)? In a typical pre-export financing, the lender advances funds directly to a producer (the ‘Borrower’). The Borrower will use the funds to finance the production of goods for export. The Borrower will assign to the lender its rights under export contracts entered into with buyers of the goods. The buyers will be required to make payments for the goods directly into a collection account. The lender will usually take security over this account. The lender may also take security over the goods before they are sold, for example, by taking a pledge over the goods while they are stored in a warehouse. The lender will apply funds received into the collection account to meet repayments under the facility agreement on the relevant repayment dates. Unless