Compliance & Regulation
SRA unveils plan for beefed-up continuing competence regime
A beefed-up continuing competence regime for solicitors, including mandatory record-keeping and discussions about ethics has been laid out by the SRA.
Exclusive: CA clarifies Mazur ruling after Law Society application
The Court of Appeal has made amendments to its Mazur ruling to make clear that law firms are not at risk of committing a criminal offence through inadequate supervision of unauthorised persons.
Leading national firm fined £160k for accounts rule breaches
National law firm Taylor Rose has been fined £160,000 for multiple breaches, including residual balances held for up to seven years and not self-reporting to the SRA.
SRA “should ask KC” to review approach to SLAPPs
The Solicitors Regulation Authority should consider commissioning an independent KC to review its approach to prosecuting SLAPPs, a leading media lawyer has argued.
The drama is over – no Mazur appeal
The Law Society has decided against trying to appeal last month’s Court of Appeal ruling in Mazur, it has confirmed to Legal Futures.
Reviewer urges better understanding of SQE format
There should be more effort to help candidates and others understand why multiple-choice questions are used in the SQE, its independent reviewer has suggested.
Legal Services Board reverses plan to reduce budget
The Legal Services Board has reversed its plan to reduce its budget and instead approved a small increase, amounting to an extra £1.79 on every authorised lawyer’s practising fees.
SRA puts size of suspected PM Law fraud at £40m
The SRA’s investigation into PM Law “involves a sophisticated suspected fraud”, with the improper removal and misuse of £39.5m of client funds.
Judge warns PI firms of SRA referrals over damages deductions
Personal injury solicitors who jack up their base costs to ensure they always hit the 25% cap on deductions from damages risk referral to the SRA, a senior district judge has warned.
Solicitor who billed clients for work he had not done struck off
A private client lawyer who billed clients for work he had not done has been struck off by the Solicitors Disciplinary Tribunal.
Blog
Accountability has to live within governance, not with one person
The assumption has long been that a COLP or COFA is personally exposed to the consequences of anti-money laundering breaches.
The SRA’s client money reforms: good intentions, questionable execution
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.
Recruitment, retention and reward in the legal accounts world
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.
