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Law Firm Compliance Forecast: May 2025 Regulatory Tracker—AML, Sanctions and OPBAS SARs; SRA Plans and Fines; Data Protection Reforms; Corporate Liability; Whistleblowing; Diversity Reporting

Published on: 21 May 2025

Published by a LexisNexis Practice Compliance expert
Legal News
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Article summary

As at 20 May 2025, our Practice Compliance forecast maps forthcoming regulatory changes relevant to law firm compliance, helping you plan for developments that may affect your organisation. Please review it carefully; key matters to keep on your radar are highlighted below.

New items we’re tracking this month

  • HMT Consultation on Improving the Effectiveness of the Money Laundering Regulations — the Regulatory Initiatives Forum has released a fresh edition of the Regulatory Initiatives Grid, setting out HMT’s package of reforms to the Money Laundering Regulations, slated for implementation between October and December 2025, following the 2024 consultation to enhance effectiveness under the Economic Crime Plan 2023-26. See: AML, CTF and counter-proliferation financing.
  • OPBAS SAR Project: Phase 1 findings, action taken and next steps — following phased assessments of suspicious activity reports, OPBAS has called on Professional Body Supervisors to improve both the volume and standard of SAR submissions. A targeted review of SARs from the legal and accountancy sectors is planned. See: AML, CTF and counter-proliferation financing.
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