Welcome to the latest RACO Roundup for February 2026! We’re keeping you ahead and informed with essential updates in the world of law and compliance.
This month, we’re focusing on two fundamental compliance areas: document retention requirements and anti-money laundering obligations for estate agents. As regulatory expectations continue to evolve, firms and regulated businesses must ensure their policies and procedures are up to date and properly implemented.
Below, you will find expert guidance on file retention periods under UK GDPR and the Limitation Act, AML best practice for estate agents preparing for FCA supervision, followed by our Security Section with the latest scam alerts to help protect you and your clients.
Client Matter Files: How Long Should a Law Firm Retain Them?
Robust record management strategies are crucial for law firms due to the sheer volume of sensitive documents they handle. Effective and compliant document management includes limitation periods on how long firms should retain client matter files, as required under UK GDPR.
Most records should be retained for a minimum of six years under the Limitation Act 1980, though certain legal documents require extended retention periods of at least 15 years. This article provides comprehensive guidance on file retention periods, including considerations for minors, Mental Capacity Act clients, wills, LPAs, and trusts. Firms must have clear document retention policies in their client care letters, complying with both SRA regulations and UK GDPR requirements while protecting against professional negligence claims.
Anti-Money Laundering for Estate Agents: Best Practice and Key Obligations in 2026
Estate agents remain at considerable risk of being targeted by criminals looking to move and disguise illicit funds. Property transactions involving large sums, complex ownership arrangements, and overseas buyers make the sector a high priority for regulators.
In 2026, estate agencies should expect AML enforcement to intensify, particularly with the FCA assuming sole AML supervisory responsibility for professional services. This article covers core AML requirements including firm-wide risk assessments, customer due diligence, enhanced due diligence triggers, source of funds and source of wealth checks, ongoing monitoring, and suspicious activity reporting. Estate agents must implement risk-based controls, maintain consistent documentation, and ensure staff training is properly recorded to meet HMRC and upcoming FCA expectations.
Security Section
Latest SRA Scam Alerts
Warning: Emails Misusing the Name of Charles Alexis Gorman
Date: 18 February 2026
The Scam: Emails have been sent regarding a supposed trademark application, misusing the name of a genuine solicitor and claiming to be from ‘Charles Gorman Legal’. The emails advise recipients that the sender is assisting a third party with a trademark application for a company name used by the recipient, and invite the recipient to secure trademark registration.
Fraudulent Contact Details:
• Email: charles@charlesgormanlegal.com
• Website: charlesgormanlegal.com
• Name Misused: Charles Alexis Gorman (genuine solicitor SRA number 27285)
The SRA does not authorise or regulate a firm called ‘Charles Gorman Legal’. The genuine solicitor Charles Alexis Gorman has confirmed he has no connection with the fraudulent emails, email address, or website.
Warning: Correspondence from ‘Lex Legal’ Misusing Daniel King and Lex Legal UK Limited
Date: 17 February 2026
The Scam: Emails and documents have been sent regarding a supposedly successful registration of an ESMA case and the recovery of lost funds. The correspondence misuses the name of a genuine solicitor called Daniel King and the name and details of a genuine firm.
Fraudulent Contact Details:
• Email: danielking@lex-legal.org, info@lex-legal.org
• Website: https://lex-legal.org/
• Phone: +44 02045251899, 07451251088
• Address: 6 St Mark’s Street, Bolton, Lancashire, BL3 6NR
Genuine Details:
• Firm: Lex Solicitors / Lex Legal (UK) Ltd (SRA ID 570829)
• Address: 6 St Mark’s Street, Bolton, BL3 6NR
• Phone: 01204 387310
• Email Domain: @lexsolicitors.co.uk
The SRA does not authorise or regulate a firm named ‘Lex Legal’. The genuine firm Lex Solicitors has confirmed they have no connection to the fraudulent emails.
Been Contacted by a Scammer?
If you’ve been contacted by any of these scams or received suspicious correspondence claiming to be from a law firm, always verify directly using established contact details before responding or taking any action.
BEEN CONTACTED?
Here’s What to Do…
When a firm’s or individual’s identity has been copied or cloned, due diligence is necessary. If you receive correspondence you believe to be suspicious, you should conduct your own due diligence by checking the authenticity of the correspondence by contacting the law firm directly by reliable and established means.
You can also contact the SRA directly to find out if individuals or firms are regulated and authorised by the SRA and verify an individual’s or firm’s practising details. Other verification methods, such as checking public records (e.g. telephone directories and company records), may be required in other circumstances.
Reach Out to RACO
We at RACO are always at hand to provide tailored guidance to help you make the most informed and beneficial decisions. We help you understand the recurrent regulatory shifts and work with you to provide solutions.
With our team of professional specialists and our renowned legal expertise, we can work with your firm to always ensure you are never left unprepared in the wake of legal changes or cyber threats.
For more information on how we can help:
Call us on 0203 985 8550 or email us on info@regulationandcomplianceoffice.co.uk
