Tagged with 'AML Tranche 2'

Courts have regulated AI, psychological safety is now enforceable, and the billable hour is losing ground. Here is what moved in Q2 2026 and what it means for your practice.

The amended Australian Solicitors' Conduct Rules commenced on 1 July 2026 and apply to every solicitor, not only practices captured by the AML/CTF regime. There are three key areas practitioners need to review: client acceptance under Rule 8, ceasing to act under Rule 13, and engagement letters under the new Rule 12. If you have not yet reviewed your client intake procedures, retainer documentation and approach on ceasing to act, now is the time.

Australia's Tranche 2 AML/CTF obligations commence on 1 July 2026, and for legal practitioners providing designated services, that deadline is now only weeks away.

From enrolling with AUSTRAC and completing your ML/TF risk assessment, to implementing customer due diligence procedures and training your staff, there's a clear sequence of steps every practice needs to work through. To help you navigate this, we've put together an easy-to-follow timeline and checklist covering every step your practice needs to take before the deadline. 

Two seismic forces are reshaping Australian legal practice simultaneously. Here's what it means to lead through both.