The SRA apologises after being ordered to pay £180,000 for improperly prosecuting a City lawyer, raising fresh concerns about its regulatory processes.
Solicitors’ persistent failures in AML compliance, coupled with inadequate enforcement, highlight the urgent need for reform.
The SRA’s recent imposition of over £57,000 in fines for AML breaches across five law firms signals a step towards stricter enforcement, but without significant penalties and proactive regulation, compliance will remain a manageable risk rather than a priority.
The Solicitors Regulation Authority faces scrutiny after being ordered to pay £189,000 in costs following a failed prosecution against Dentons. This raises critical questions about regulatory practices in the UK legal sector.