Is FCA’s CDD review a turning point for due diligence?
The FCA’s 2025 multi-firm review indicates that existing due diligence policies often, in practice, fail and due diligence processes lack the clarity and evidential rigour now expected under the money laundering regulations. The FCA notes that while firms are not unaware of their obligations, they are not translating those obligations into effective, operational controls. The […]
A defining moment for AI in law firms
AI has quickly become a daily reality in most legal practices. Across the profession, firms are using AI to draft documents, summarise materials, review contracts and support legal research. What was once seen as innovation is now embedded in routine work. That shift is exactly why the latest guidance from the Law Society of England […]
Tranche 2 is coming: what Australia’s AML reforms mean for lawyers
For years, tranche 2 has hovered in the background of the Australian legal sector, frequently discussed, often delayed, and so easy to ignore. Many lawyers have been hearing about it for over a decade but they filed it away as a future problem, and carried on with business as usual. That is no longer an […]
The $250 million AI gamble
In 2021, Krafton Inc. made what seemed like a smart, forward-looking bet. The company, best known for global gaming hits, acquired Unknown Worlds Entertainment, the creative force behind the widely loved Subnautica series. The deal was structured with an incentive of an additional $250 million earnout if the studio’s next title, Subnautica 2, performed as […]
Breaking news: EU lawmakers agree on new direction for AI Act compliance
The European Parliament has just made its move on the future of the EU AI Act. In a decisive vote, MEPs backed a package of amendments designed to “simplify” the law. At the same time, EU Member States in the Council of the European Union have already agreed their own position. Together, this sets the […]
The new AI divide: Is US policy redrawing the global regulatory map?
The global race to shape AI is no longer just about technology. It is increasingly about regulation and who gets to define the rules of the game. The White House’s latest legislative framework has indicated that it intends to lead in developing AI and in determining how lightly it should be governed. Its recent domestic […]
The LastPass breach: how convenience became a compliance failure
The ICO’s case against password manager provider LastPass UK Ltd shows that even companies built around security can fail to protect data. The company was fined £1.2 million following a 2022 breach affecting up to 1.6 million UK users. While this looks like another cybersecurity incident, this wasn’t a failure of sophisticated encryption. It was […]
AI regulation, recalibrated: What the EU’s latest move means
The EU has taken a significant step toward reshaping its AI regulatory landscape. The European Parliament’s LIBE and IMCO committees approved their negotiating position on the AI Omnibus and it’s all about simplifying the rules, reducing regulatory friction, and giving businesses more clarity. This is a strategic recalibration on the AI Act that could impact […]
AUSTRAC’s big reset: What the Tranche 2 AML reforms mean for your business
A significant shift is underway in Australia’s fight against financial crime and it is about to redraw the boundaries of responsibility across entire professions. From March 2026, AUSTRAC will begin rolling out new regulatory requirements and a fundamentally different way of engaging with the sectors it supervises. The launch of its redesigned website on 30 […]