Nearly a decade after the Financial Conduct Authority began investigating the car finance industry, the story of the PCP commission scandal is still unfinished.

The assumption has long been that a COLP or COFA is personally exposed to the consequences of anti-money laundering breaches.

On the face of it, the SRA’s plans to tighten protections around client money sounds sensible. The detail, as ever, tells a more complicated story.

Understanding the legal finance market is important – not just for those actively involved in it day-to-day but also for leaders within law firms.

In 2018, I hit what I call ‘year zero’. On paper, Olliers Solicitors was a top-tier criminal defence firm but beneath the surface, I could see we were at a crossroads.