Compliance & Regulation
Lawyers “should pay £150 levy to fund social welfare law”
Lawyers should pay a levy of £150 each through their practising fees to fund social welfare law, and there should also be a £30 levy on county court cases, an event heard yesterday.
Law Society warns SRA to tread carefully over compensation fund cash
The Law Society has warned the Solicitors Regulation Authority not to ask the profession to stump up millions to boost its compensation fund without consulting first.
CILEX regulator rejects “deskilled” advocacy warning over higher rights
The regulator of chartered legal executives has rejected warnings from barristers of a “deskilled” advocacy profession with a “third and lower tier”, if it goes ahead with granting higher rights of audience.
Barristers “need guidance from chambers on sanctions compliance”
Chambers need to have “mechanisms and guidance in place” to ensure their barristers are complying with UK sanctions, the Bar Standards Board has said.
LeO seeks £1.2m budget increase as complaints numbers rise
The Legal Ombudsman has proposed a 7% increase, or £1.2m, in its budget to nearly £18m next year, with delays at the complaints-handling body set to continue for longer than anticipated.
Sex offender given access to child’s data by law firm found in contempt
A convicted sex offender accidentally given access by a leading law firm to a vulnerable child’s confidential information has been found guilty of contempt for not complying with court orders to delete it.
Beringer: Firms must be publicly accountable for new client decisions
Commercial law firms must be prepared to publicly justify acting for controversial clients and not hide behind professional arguments like access to justice, ex-Allen & Overy senior partner Guy Beringer has said.
Solicitors “have more positive view of their services” than consumers do
There are “several discrepancies” between the quality of the service solicitors believe they are providing and what consumers perceive, research for the SRA has found.
Law firms each fined £12,000 for AML failures
The Solicitors Regulation Authority has fined two law firms over £12,000 each for anti-money laundering failures, one having accepted source of funds confirmation from a Ukrainian law firm.
Majority of law firms still failing to follow price transparency rules
Nearly six in 10 law firms are failing to publish the full cost and service information required by the transparency rules, a report for the Solicitors Regulation Authority has found.
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.
