SRA business plan and budget 2024/25…
We’ve responded to the Solicitors Regulation Authority’s (SRA) consultation on its business plan and budget for 2024/25. Read our full response.
Key findings include the most common breaches reported by legal public body supervisors (PBSs):
Many PBSs also noted that non-compliance and poor AML procedures were most common with smaller firms and sole practitioners, who often failed to understand the importance of having adequate AML controls in place.
A long-standing relationship between a client and a business leading to insufficient checks was also noted by many PBSs as being a common theme among non-compliant members of their supervised population.