Rebecca Hughes is quoted on the legal regulators loss of AML role to FCA

Senior Associate Rebecca Hughes is quoted in New Law Journal and Legal Futures on the Solicitors Regulation Authority‘s (SRA) loss of anti-money laundering (AML) role to the Financial Conduct Authority (FCA).

The government’s decision to transfer the regulation of all lawyers’ AML activities to the FCA has been met with largely negative reaction from the legal profession, with lawyers fearing the switch could leave gaps & hike costs.

According to Rebecca, “the writing has been on the wall for the SRA for some time now as it has been under mounting pressure from its watchdog, OPBAS.”

“Faced with widespread, persistent non-compliance linked to recurring issues, including inadequate AML controls and risk assessments at firm, client and matter levels, the SRA’s promised focus on more data-led, proactive supervision in 2026 is arguably too little, too late.”

You can read Rebecca’s comments in the full articles in New Law Journal and Legal Futures