AML & compliance insights.
The £500,000 Clyde & Co fine: what it means for smaller firms.
The largest AML fine against a UK law firm to date was £500,000, against Clyde & Co LLP. What the Solicitors Disciplinary Tribunal found, what changed in the fining regime since, and why smaller firms should read the judgment, not just the headline.
Arvind Manimaran · 14 July 2026 · 7 min read
MLR 2017 regulation 28 explained: how to build a client and matter risk assessment that holds up.
A full walkthrough of Regulation 28 of the Money Laundering Regulations 2017: what customer due diligence requires, how the risk-based approach works, and how to structure a client and matter risk assessment that survives an SRA inspection.
Jacob Styles · 14 July 2026 · 8 min read
Source of funds versus source of wealth: the difference, and why it matters.
Source of funds and source of wealth are not the same check under MLR 2017. Clear definitions, worked examples, when each is required, and the exact figures on where UK firms fall short.
Jacob Styles · 14 July 2026 · 7 min read
The SRA AML inspection checklist: what your firm needs before the letter arrives.
A category-by-category checklist for SRA AML inspection readiness, covering the FWRA, CMRA, source of funds, ongoing monitoring, ID checks, audit and training, with exact figures from the SRA's own 2024/25 report.
Arvind Manimaran · 14 July 2026 · 9 min read
What a PWRA is, and why the SRA calls it something else.
A PWRA, or practice-wide risk assessment, is the same underlying duty the SRA calls a firm-wide risk assessment. What Regulation 18 of the MLR 2017 requires, and why the terminology differs across legal-sector regulators.
Arvind Manimaran · 14 July 2026 · 6 min read
The client and matter risk assessment: the first thing an SRA inspector checks.
The client and matter risk assessment is where SRA inspections often begin. What MLR 2017 Reg 28 requires, and why a weak or missing CMRA cascades.
Jacob Styles · 1 July 2026 · 6 min read
Why file quality has become an AML issue for the SRA.
The SRA has shifted from tick-box AML checks to file substance. Here is what inspectors now look for and why weak file quality is now an enforcement risk.
Arvind Manimaran · 1 July 2026 · 6 min read
Ongoing monitoring under MLR 2017 Reg 28(11): the duty firms forget.
AML duty does not end at onboarding. What ongoing monitoring under MLR 2017 Reg 28(11) requires, why firms overlook it, and how the gap creates real risk.
Arvind Manimaran · 1 July 2026 · 7 min read
Source of funds: still the most common AML failing, and why.
Source of funds remains one of the most common AML failings for UK law firms. What MLR 2017 requires, where firms fall short, and why the gap persists.
Jacob Styles · 1 July 2026 · 7 min read
What the SRA's 2024/25 AML report reveals about small law firms.
The SRA's 2024/25 AML report shows a sharp enforcement surge. Here is what the numbers mean for sub-20-fee-earner firms and why non-compliance is costly.
Arvind Manimaran · 1 July 2026 · 7 min read
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