Regulatory Risk & AML Frameworks
At a Glance
- Advanced AML Programme Implementation: We design company-wide risk assessments and daily processes tailored specifically to your clients and the level of risk you are comfortable with.
- Senior Officer Support: We provide hands-on mentoring and expert backup for your compliance officers (MLROs, COLPs, and COFAs) to help them meet their legal obligations and set a strong ethical example from the top down.
- Regulator-Ready Systems: From mandatory compliance audits to integrating digital client onboarding, we build secure systems designed to pass strict SRA and OPBAS inspections.
- Training & Ongoing Assistance: We provide practical compliance training for your revenue-generating staff, plus on-demand support for complex AML queries and SARs submissions.
- Reducing Enforcement Risk: Working with our regulatory experts ensures any weak spots in your compliance are found and fixed before they lead to an investigation or damage your reputation.
What Is Regulatory Risk & AML Frameworks?
Managing risk and staying on top of Anti-Money Laundering (AML)compliance are the foundation of any modern law firm. Far from just legal theory, these are the practical, day-to-day systems that protect your firm from financial criminals and strict regulators.
Regulators no longer accept compliance as just a stack of documents. Instead, they want proof that your systems actually work. We bridge the gap between complex legal rules and your daily operations, ensuring your team stays compliant without losing focus on their clients.
Whether you are a new MLRO looking for expert guidance, or a firm preparing for an SRA review, getting the right help quickly is vital. Contact our Regulatory team on 0345 894 1622 for a confidential consultation.
Operational Support & Framework Components
The support your firm needs will depend on your size, your practice areas, and how established your current processes are. Below is a breakdown of the key services our regulatory team uses to protect your business:
| Mechanism | Focus | Operational Goal | Key Feature |
| Firm-Wide Risk Assessment (FWRA) | Strategic Risk | Foundation | A custom, in-depth review of your firm’s risks. We replace generic templates with a clear plan tailored specifically to your business. |
| Independent Audit (Reg 21) | Stress-Testing | Assurance | An independent, thorough review of your files and systems to ensure your firm easily passes its mandatory compliance audits. |
| MLRO & COLP Mentoring | Leadership Support | Decision Making | -to-1 guidance for your compliance leaders. We act as an expert “second pair of eyes” to help you handle complex SARs, tipping-off risks, and breach reporting. |
| Operational Training | Staff Engagement | Culture | Real-world workshops for your team that focus on spotting actual ‘red flags’ in day-to-day work, rather than just memorising legal theory. |
Senior Officers and “Tone at the Top”
In the current regulatory climate, the primary duty of compliance falls heavily on individuals. MLROs, COLPs, and COFAs face increasing personal scrutiny and liability.
Maintaining strict regulatory compliance is essential to avoid enforcement action. We frequently advise officers on:
- Personal Liability: We protect your directors and officers from SRA fines and disqualification by creating clear, easy-to-prove records of how and why key decisions were made.
- Duty of Responsibility: We help your senior team easily prove they are in full control of the business, ensuring they meet the strict leadership requirements of modern regulators.
- Breach Reporting: If something goes wrong, we manage the sensitive process of reporting major issues to the SRA to help keep your penalties as low as possible.
Frequently asked questions.
Do I really need an “Independent Audit”?
Yes, for most firms, it is a legal requirement under the 2017 Money Laundering Regulations. The good news is that you don’t necessarily need an external accountant. You just need someone fully independent of your day-to-day compliance team to conduct the review. We step in to act as that independent voice, ensuring your firm meets all regulatory standards.
How often should we update our Firm-Wide Risk Assessment?
Your FWRA must be updated whenever there is a significant change in your firm’s structure, client base, or the wider regulatory environment (such as the SRA’s sectoral risk assessment updates). We recommend an annual review as a minimum standard.
Can you support us during an SRA investigation?
Yes. Because we are a defence-led firm, we are uniquely positioned to assist if the regulator has already identified issues. We can manage the investigation response, represent the firm in interviews, and negotiate remedial outcomes to minimise sanctions.
Why Choose Cartwright King?
Navigating the complexities of AML and governance requires a partner who understands both the rules and the reality of legal practice.
We offer a unique advantage to law firms and regulated entities:
- SRA & Regulator Insight: Led by a former senior member of the SRA, our team provides unparalleled insight into regulator engagement and approval processes.
- Defensive Expertise: Our background in high-stakes Business Defence means we are uniquely positioned to protect directors against allegations of misconduct or regulatory breaches.
- Technical Knowledge: We possess an in-depth understanding of the Solicitors Accounts Rules (SAR) and the Legal Services Act, ensuring that your financial governance is watertight.
- National Regulatory Reach: We operate across England and Wales, capable of deploying support to any office or jurisdiction you operate within.
About Our Expert:
Wesley Thompson Head of Legal Regulatory & Authorisation brings over 15 years of experience in regulatory and financial support, including a tenure as a senior member of the SRA. He specialises in law firm restructuring, ABS licensing, and firm authorisations for some of the UK’s largest regulated practices. With specialist expertise in the Legal Services Act and Solicitors Accounts Rules, Wesley provides strategic guidance across multiple regulatory bodies including the SRA, BSB, and CLC.