Kingsley Napley introduces AML Audit Service

Colette brings extensive experience to Kingsley Napley, having worked with the Solicitors Regulation Authority (SRA) since 2015. As the SRA's first Director of AML, she established and managed the AML directorate. Her expertise in AML began in 2006 when she led the implementation of the third money laundering directive in the property services sector and further developed in financial services before focusing on the legal sector.

At Kingsley Napley, Colette's primary role will be to launch the new AML audit service, which aims to assist SRA-regulated clients in identifying gaps in their AML policies and procedures. She will provide recommendations for improving compliance programs. Additionally, Colette will offer anti-money laundering and financial crime compliance advice to General Counsel (GCs), Compliance Officers for Legal Practice (COLPs), Money Laundering Compliance Officers (MLCOs), and Money Laundering Reporting Officers (MLROs) as part of the firm’s existing regulatory advice services.

Iain Miller, Head of Kingsley Napley’s Legal Services Regulatory team, expressed his enthusiasm about Colette joining the team, stating, “Colette has unrivaled experience in the legal services AML space and a wealth of technical and regulatory knowledge that will be of immense benefit to our clients. The new AML audit service will give firms confidence that their policies, procedures, and controls comply with money laundering regulations and the SRA’s latest guidance.”

Colette commented on her new role, saying, “This is an exciting new chapter for me, and I’m looking forward to applying my knowledge and skills client-side. AML is an area where law firms have significantly professionalised in recent years, but there is no room for complacency. Regular reviews of policies, procedures, and training are essential, and firms must ensure they have effective controls at both a firm-wide and client/matter level by conducting risk assessments and spot checks. With the increasing frequency and severity of fines from the SRA for AML breaches, this is a critical area that must be prioritised by law firm leadership.”

The introduction of this service aligns with the growing importance of AML compliance in the legal sector, addressing the complexities of legislation and the heightened scrutiny from the SRA. Kingsley Napley’s commitment to enhancing its AML offerings reaffirms its position as a trusted advisor for law firms navigating this vital aspect of regulatory compliance.