Tag Results

Solicitor “unable to distinguish right from wrong” fined £10,000

A sole practitioner who claimed to be “unable to distinguish right from wrong” has been fined £10,000 by the Solicitors Disciplinary Tribunal. The tribunal said Claire Flood’s decision to transfer money from client accounts to pay her tax bill lacked “moral soundness, rectitude and a steady adherence to an ethical code”.

June 3rd, 2016 | No Comments »

Legal Services Board approves relaxation of rules on accountants’ reports

The Solicitors Regulation Authority’s plans to relax the rules around accountants’ reports have been formally approved by the Legal Services Board, meaning that around 1,000 more law firms will not have to submit one in future

September 14th, 2015 | No Comments »

A thousand more law firms exempted from submitting accountants’ reports

A thousand more law firms will no longer be required to submit accountants’ reports, the Solicitors Regulation Authority decided at yesterday’s board meeting. The change is set to be introduced on 1 November 2015.

July 16th, 2015 | No Comments »

“Overwhelming disagreement” made SRA change track on COFA responsibility

“Overwhelming disagreement” made the Solicitors Regulation Authority abandon a plan to make compliance officers sign declarations that their firms followed the accounts rules, it has emerged. But further changes to accountant’s reports are coming.

November 17th, 2014 | No Comments »

SRA board backs moves to help MDPs, but charts cautious course on ditching accountants’ reports

The board of the Solicitors Regulation Authority today approved a series of measures to further its regulatory reform programme, including making it easier for multi-disciplinary practices to become alternative business structures.

September 17th, 2014 | No Comments »

SRA faces ‘timebomb’ of risk from foreign lawyers, says Italian who learnt from rule breaches

An Italian lawyer has warned of a ‘timebomb’ of regulatory risk among foreign lawyers practising in England and Wales, and urged European law firms to ensure they understood what was required to comply with conduct rules.

January 28th, 2014 | No Comments »

What is a material compliance failure?

Let’s assume you already know you have to report material compliance failures to the Solicitors Regulation Authority (SRA) as soon as reasonably practicable. That begs the BIG question: what does a material compliance failure really look like. In the brave new world of outcomes-focused regulation, there’s no definition of material compliance failure and the SRA isn’t forthcoming with any real guidance or examples. Instead, you’re expected to work it out for yourself, taking into account all relevant factors.

July 25th, 2013 | 1 Comment »

London-based Italian lawyers sanctioned over volume overseas conveyancing

The Solicitors Disciplinary Tribunal (SDT) has ruled that three Italian lawyers based in London committed a host of accounting irregularities while acting for clients in overseas property deals.

February 8th, 2013 | 1 Comment »

In brief: regulators reassure firms over RBS ‘breaches’, £1m apprenticeships boost and more

Our latest round-up of key news includes the SRA and CLC offering relief to solicitors in breach because of RBS/NatWest computer problems, £1m of government money for legal apprenticeships, a destination for dormant client money, the Co-op’s new will-writing partnership, and much more.

June 25th, 2012 | 1 Comment »

Scary Spice

At some stage in your career – probably many years ago – someone will have asked you to describe your perfect job or where you saw yourself in 10 years’ time. Maybe you talked earnestly about your burning desire to bring justice to the masses. More likely, you claimed that your ultimate goal was to be partner in the interviewer’s fine establishment. Chances are you didn’t say: “What I want, what I really really want, is to be a compliance officer for legal practice.” – Allison Wooddisse discusses what firms should include in a COLP’s job description.

May 14th, 2012 | No Comments »