Compliance & Regulation
Licensed conveyancers being brought back into AML compliance
More than 40% of firms of licensed conveyancers inspected by their regulator in the past year were non-compliant with anti-money laundering rules, a review has revealed.
Transparency rule failures lead SRA to issue first fixed penalties
Three law firms that failed to comply with the transparency rules have become the first to receive fixed £750 fines under the Solicitors Regulation Authority’s new regime.
LSB chief: Profession needs “course correction” to boost public confidence
Lawyers need to recognise that their role comes with “privileges and obligations” at a time of public concern about unethical behaviour, the chief executive of the Legal Services Board has said.
Family lawyer who took advantage of abuse victims is struck off
A family law solicitor who lied to and took advantage of vulnerable clients, including victims of domestic violence, has been struck off and ordered to pay almost £75,000 in costs.
Allow us to refuse work for ethical reasons, junior lawyers tell firms
Junior lawyers want the right to refuse to work on certain matters for ethical reasons, but few firms currently allow it, research has found. They are frustrated too by the slow pace of cultural change.
Solicitor convicted of tipping off client about money laundering probe
The first solicitor ever prosecuted by the Serious Fraud Office for ‘tipping off’ a client about a money laundering investigation was convicted this week at the Old Bailey.
SRA issues detailed defence of its actions on Axiom Ince
The SRA yesterday issued its first detailed statement on the Axiom Ince scandal, saying the suspected dishonesty was “sophisticated” and missed by everyone else.
ASA bans law firm’s TikTok adverts for misleading consumers
The Advertising Standards Authority has banned two misleading TikTok posts by a law firm for not making clear that the people featured were not genuine clients.
Solicitor struck off for lying to friend about training contract offer
A solicitor who convinced a friend that he was director of a Somerset law firm and could get her a training contract has been struck off.
Seven arrests in dawn raids as SFO launches Axiom Ince probe
The Serious Fraud Office today arrested seven people and carried out dawn raids across nine sites, as it announced the launch of a criminal investigation into Axiom Ince.
Blog
Divorce escrow: asset sales before final settlement
When significant matrimonial assets are sold before a final financial order is agreed, holding the proceeds safely and neutrally can present real practical challenges.
AML lacks clarity – and standards are suffering
If firms are buckling under the pressure of AML regulations, subject to ever-increasing fines, then something is clearly not working as it should be.
The power of participation for trainees and apprentices
It’s important as a trainee or an apprentice to get involved in the life of your firm – even under the pressure of discovering how to navigate professional life and now the demands of the SQE.
