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The government has pledged radical reform of the suspicious activity reports regime and its replacement with an intelligence-led, risk-based focus. The proposals include removal of the existing consent regime, and with it the scrapping of the existing statutory money laundering defence.

A solicitor who allowed her firm’s client account to be used as a banking facility by a property investment company has been suspended by the Solicitors Disciplinary Tribunal. Theresa Quartey was described by the SDT as “inconsistent, contradictory and at times evasive” in her evidence.

Many lawyers, particularly solicitors and barristers, complain about their practising certificate (PC) fees, but there are high levels of ignorance about what they are paying for, a major cost of regulation survey has found.

The Solicitors Regulation Authority has closed down a Manchester law firm, more than four months after banning its director from conveyancing and ordering him to go on a mortgage fraud and money laundering course.

Some “genuinely shocking” cases of money laundering by law firms are currently going through the disciplinary system, a senior manager at the Solicitors Regulation Authority has warned the profession.