Last week was one of great occasion. For the occupant of this office, Opening of Law Term week brings with it remarkable opportunities to engage with Attorneys General, heads of jurisdiction, and many solicitor members.

The Opening of Law Term Dinner last Thursday was one such event, giving those who secured a seat the opportunity to hear the Chief Justice of New South Wales, the Hon. Andrew Bell AC, deliver a characteristically thought-provoking address.

Each year, the evening also marks an important moment for the President of the Law Society of NSW to outline key areas of focus that help guide the organisation’s strategic work for the year ahead.

As my first President’s Priority for 2026, I have very deliberately nominated supporting the profession to meet its regulatory obligations, including compliance with the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms.

The reason for this is simple. If your legal practice provides a ‘designated service’, for the purposes of the tranche 2 Anti-Money Laundering and Counter-Terrorism Financing reforms, it will become a ‘reporting entity’, with new compliance obligations, on 1 July this year.

I am very pleased that the substantial work already undertaken by the Law Society, led by my predecessors as President, has helped to address initial concerns expressed around these changes, particularly by principals of sole and small practices. These practices make up a significant portion of our membership, and providing them with appropriate support is essential. It will be a key focus for me this year.

As I said last Thursday, we will continue to collaborate closely with AUSTRAC, to ensure our profession has the right resources and support, including through our AML/CTF Hub.

You may have seen that, in late January, AUSTRAC announced the release of its AML/CTF Program Starter Kits (Starter Kits). These Starter Kits are designed to provide small businesses with an AML/CTF program to meet the new compliance requirements. The Law Society is currently developing additional resources to assist legal practices to use the Starter Kits, and ensure they are appropriate for the nature, size and complexity of the practice.

As I look towards the year ahead, I am committed to working with my fellow Law Society Councillors and staff to deliver on this, and all of my President’s Priorities, for the benefit of the solicitors of NSW, and the betterment of our justice system.

Ronan MacSweeney, President, The Law Society of NSW