Regulatory Compliance Update for Irish Solicitors - SARS 2023 & AML Developments Explored

Introduction

The Solicitors Accounts Regulations 2023 (SARS 2023), which came into effect on 1 July 2023, introduced important changes to the management and safeguarding of client funds that directly impact day-to-day practice in Irish law firms.

Alongside this, solicitors continue to operate under ongoing Anti-Money Laundering (AML) obligations as Designated Persons under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, as amended.

Given the increasing regulatory focus in both areas, this webinar led by Elaine Jackson of Process Accountants provides a practical and focused update to help solicitors understand key changes, strengthen compliance frameworks and ensure their firms remain fully compliant and audit-ready.

What You Will Learn

This webinar will cover the following:

• Key components of the Solicitors Accounts Regulations 2023 (SARS 2023) and their impact on day-to-day practice
• The main changes introduced under SARS 2023 and the practical implications for law firms
• Reporting obligations of both the Reporting Accountant and the solicitor, including common compliance issues
• A brief overview of money laundering and terrorist financing risks relevant to legal practices
• Recent updates to Irish AML legislation and their impact on solicitors as Designated Persons
• Customer Due Diligence requirements, including Simplified, Normal and Enhanced Due Diligence and when each applies
• Core AML compliance obligations, including risk assessments, policies and procedures, ongoing monitoring and reporting requirements
• Annual AML compliance expectations, including training, documentation and firm-wide controls

This pre-recorded webinar will be available to view from Friday 5th June 2026

Alternatively, you can gain access to this webinar and others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.