AML for Law Firms - 2026 Virtual Conference

Introduction

Stricter supervision, evolving guidance and increasing regulatory scrutiny are reshaping the AML expectations placed on law firms, making it more important than ever to understand where the real risks lie and how to respond effectively.

This focused virtual conference, chaired by Joanna Morris, brings together leading specialists to unpack the latest developments, highlight common pitfalls seen in supervisory reviews, and offer clear, practical steps to strengthen compliance across client onboarding, risk assessment and ongoing monitoring.

Designed for professionals who need to stay ahead of fast moving obligations, it delivers timely insight and actionable guidance to help firms navigate the year ahead with confidence.

Conference Agenda

This live and interactive 5-hour conference will cover the following:

10am-11am: Getting SOF/SOW Right: Current Risks, Regulatory Focus & What Law Firms Need to Know

Joanna Morris, Jo Morris Training & Consultancy

Regulation 28(11) of the MLR2017 talks about the scrutiny of transactions throughout the course of the client relationship including source of funds checks. In Regulation 35(5)(b), in regard to PEPs, we must take adequate measures to establish the source of wealth and source of funds involved in the proposed business relationship. What does this mean in practice?

This is still one of the key areas of concern for the SRA when undertaking their audits. Quite often documentation is collected but is it relevant, does it all add up, and can we see the audit trail of the money?

In this session we will look at the following:

• Source of Wealth and Source of Funds - what is the difference?
• What does the MLR2017 and the LSAG guidance say
• Source of Funds:
• How far back do we need to go?
• What information should be we collecting?
• What documentation is required?
• How were the monies accumulated?
• Does it all add up?
• Source of Wealth:
• When do we need to undertake source of wealth checks?
• What questions do we need to ask?
• Establishing source of wealth in higher risk situations
• Ongoing monitoring
• The SRA thematic review of Source of funds and Source of Wealth - November 2025
• Document! Document! Document!

Morning Break

11:10am-12:10pm: Client Matter Risk Assessments: Getting Them Right to Meet AML Expectations & Avoid Enforcement Action

Tracy Thompson, Thompson Associates

Client Matter Risk Assessments are one of the most frequently criticised areas in SRA AML inspections and enforcement cases. This highly practical session explores why so many firms get CMRAs wrong, what the regulator is actually looking for, and how to ensure assessments are meaningful rather than procedural. Using real examples drawn from independent AML audits and supervisory outcomes, the session provides a clear framework for producing risk assessments that support proportionate due diligence, robust source-of-funds enquiries and defensible compliance decisions.

Learning outcomes:

• Understand what the SRA expects from a compliant Client Matter Risk Assessment
• Identify common CMRA failures that lead to supervisory findings and enforcement action
• Apply a practical approach to completing and updating CMRAs so they actively inform AML decisions

12:10pm-1:10pm: Red Flags & Risk Assessment: Key Developments & Practical Steps

Trevor Hellawell, Solicitor and Legal Training and Management Consultant

Chapter 18 of the Legal Sector Affinity Group Guidance deals, in some detail, with the kinds of red flags that ought to be considered as part of the risk assessment process of both clients and matters. Those who have read it might feel that it is all a bit obvious but, on the ground, on a day-to-day basis, what exactly should we be looking for? This session will explain the 'gate-keeping' part of the risk assessment process and why it is so vital to the spotting of red flags or other issues.

Topics covered will include:

• What questions must we ask of all clients?
• What is 'gate-keeping'?
• Client & Matter Risk assessments
• The importance of risk assessments in the gate-keeping process
• What are the red flags we should look for?
• Examples

Break for lunch

2-3pm: Corporate Liability, the New Failure to Prevent Offence, & Changes to the Identification Doctrine

Laurence Howland, Buckles Law

The introduction of a new corporate offence of “failure to prevent fraud” has caused ripples across the UK corporate landscape, raising concerns that large companies may be held responsible for financial misconduct by individuals, employees and contractors. However, this new “FTP” offence is only one of a series of measures introduced by government which fundamentally change the landscape of corporate responsibility and liability.

In this session, compliance expert Laurence Howland will look at the recent history of corporate fraud and why the UK government is introducing significant changes to long-established legal principles. He will explore what the new offences are, how the legislation impacts on businesses - both small and large - and what business leaders must do to avoid prosecution.

Delegates will learn:

• Why the new corporate offences have been introduced
• How the new “failure to prevent fraud” offence is structured
• What the “identification doctrine” is and how recent changes will impact your company
• Essential steps in mitigating the risk of prosecution

Afternoon break

3:15-4:15pm: Recent Developments in AML

Alison Matthews, Alison Matthews Consultancy Ltd

This session will provide an update on what is happening in AML for law firms. This is a time of significant change with the FCA becoming the Single Professional Services Supervisor. The Legal Sector Affinity Group guidance was updated in 2025, the National Risk Assessment was published in July 2025, and the SRA’s Sectoral Risk Assessment was published on 31 July 2025.

Changes to the Money Laundering Regulations are expected in the near future. The Mutual Evaluation Review of the UK by the Financial Action Task Force will take place next year and it is expected there will be a focus on professional services.

By the end of the session, you will:

• Be able to update your AML policies and procedures
• Know what is on the horizon and be able to plan
• Be able to update your senior management, partners and employees on the changes

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.