The Standard Onboarding Model and Its Fatal Flaw Any new fee earner that starts their career is usually placed in the pre-exchange team. It is a team where fast-paced calls dominate and the energy is one of passion. Phones are non-stop ringing trying to get the last completion in before the end of the month.

The transfer of AML supervision to the FCA is firmly on the legal sector’s radar. The more useful question now is what to do before the transition happens. The exact timetable and final supervisory mechanics are still being worked through, but the direction is clear. The FCA is likely to bring a more data-led, outcomes-focused and interventionist style of supervision than many firms are used to.

There has been a recent trend in the industry emphasising that post-completion is not an afterthought, and it is not administrative. Acknowledging these points is good management practice, but the board must take this a step further and consider what liability risks post-completion raises.

The policy was reviewed. The problem was it was still wrong. A recent SRA enforcement decision is a useful reminder that having AML policies and review processes in place is not enough. What matters is whether they are compliant, current and working in practice.

In a landmark move that will surely send criminal masterminds launching a tender for the nearest yacht, the United Kingdom has unveiled the Money Laundering and Terrorist Financing (Amendment) Regulations 2026. Officials describe the package as “targeted, proportionate and risk-based”. In plainer terms: enhanced checks on every slightly exotic transaction were becoming exhausting, so the rules have been sensibly narrowed.