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United Kingdom

Weekly compliance briefing for UK law firms: sanctions, financial crime, Data Use and Access Act, AI regulation in UK and EU, and trainee salaries—31 July 2025

Published on: 31 July 2025

Published by a LexisNexis Practice Compliance expert
Legal News
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Article summary

In this issue:

  • Financial sanctions
  • Other financial crime
  • Data protection
  • Cybersecurity
  • Other Practice
  • Compliance updates this week
  • Daily and weekly news alerts
  • Trackers
  • New and updated content

Financial sanctions

OFSI and HMT revise guidance on Russian Oil Services ban

The Office of Financial Sanctions Implementation (OFSI) and HM Treasury (HMT) have amended the Tier 2/3 notification that a Tier 1 Provider has not verified adherence to reporting obligations under form INT/2022/2469656, within their guidance on the Russian Oil Services restriction. See: LNB News 25/07/2025 32.

OFSI refreshes general guidance on UK financial sanctions

OFSI has refreshed its overarching guidance on UK financial sanctions to add Designated Money Service Businesses as a licensing basis at section 6.6. This basis enables OFSI to grant licences permitting the return of funds to non-designated persons from designated Money Service Businesses, where defined conditions are satisfied. See: LNB News 25/07/2025 11.

Other financial crime

LSB publishes statutory guidance on new economic crime regulatory objective

The Legal Services Board (LSB) has issued statutory guidance on putting into effect the new regulatory objective to promote the prevention and detection of economic crime, which was inserted into the Legal Services Act 2007 through the Economic Crime and...

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