Call me pedantic, but I like precision when I’m talking about compliance. Recently, I was invited to speak at the Internet of Agreements conference on identity. I was giving the legal perspective, specifically around AML/KYC. Of course, identity from an AML perspective has a very specific meaning and purpose, and it became clear to me that, having been immersed in this regulated world for 13 years, that perhaps other people don’t appreciate the nuances of it. The terms CDD/KYC/AML are used interchangeably by non-AML people, to indicate that one approach to identity will work for all three, but it’s not that straightforward.

While discussing the Claims Liability Bill in the House of Lords last month, Conservative Baroness Berridge, a former barrister, voiced her concerns. She argued that, while the bill may well support the government’s aim of reducing fraudulent personal injury claims, this could be at the expense of those most vulnerable, the claimants themselves. “It is a high burden on your Lordships’ House to ensure that the bill hits the target of fraudulent claims as accurately as it can without the shrapnel hitting genuine claimants,” she said. There is good reason for her to be apprehensive.

In March 2018, the Solicitors Regulation Authority published a consultation paper which outlines proposals for reforming the Solicitors’ Compensation Fund and professional indemnity insurance. We have reflected on the proposals and, whilst we have a number of concerns, it’s important to note that not all of the proposals are detrimental and the consultation does present some pragmatic solutions, such as separating the insurer agreement from the minimum wording, which we feel will result in better and more easily understood products. We applaud the SRA for consulting, but we do have serious concerns around the data used and its interpretation of it.

Leaders from across the legal community held a roundtable discussion earlier this month to talk about emotional competency in legal practice and education. The legal professions wellbeing taskforce, which brings together professional bodies, legal educators and regulators, organised the event. The goal was to start a dialogue about how emotions influence our behavior and decision making in the workplace and that understanding and managing these may help to improve lawyer wellbeing.

Over the past 20 years, nearly all aspects of our financial lives have migrated online, from tax returns to banking. Yet arguably the most important and protracted financial process in our lives has remained doggedly devoted to the paper based world. A single signature in Rotherhithe, south-east London, on 4 April, however, may have just lit the touch paper for transforming this process. By signing the UK’s first ever digital mortgage through the government’s new “sign your mortgage deed” service, a signal was sent that the home-buying process is finally on course to be digitised, simplified and streamlined.