Compliance & Regulation
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.
Solicitor who practised unauthorised for son’s business is suspended
A solicitor who practised unauthorised and handled reserved probate work for a company owned by her non-solicitor son after her firm closed has been suspended for three months.
Court refers lawyers to regulators over misconduct in $11bn arbitration
A High Court judge has referred a solicitor and a barrister to their regulators for “indefensible” conduct, motivated by money, that contributed to his decision to overturn an $11bn arbitration award.
SRA makes pitch to be sole AML supervisor for UK legal sector
The Solicitors Regulation Authority has called on the government to make it the sole supervisor of anti-money laundering activity by all lawyers.
BSB could publish assessments of chambers and encourage mergers
The Bar Standards Board has floated the idea of publishing assessments of individual chambers as part of a new supervision strategy and encouraging smaller ones to bulk up through merger.
Law Society wants single AML supervisor for legal services
The Law Society has argued for a single supervisor of anti-money laundering activity for the legal sector in England and Wales.
Unbundling “empowers client” and optimises solicitors’ billing
Clients using unbundled legal services feel empowered by having control of their own case, while it is the best way for solicitors to bill every minute of their time, a pioneering family lawyer says.
“Great deal of work” still needed on barrister apprenticeships
There is still a “great deal of work” to be done to ensure that barrister apprenticeships are ready for launch, the Bar Standards Board has warned, even though it is set to move closer today.
Blog
Client account interest is not spare change
The proposed Interest on Lawyers’ Client Accounts scheme is being framed as a sensible, international, “tried and tested” way for the profession to help fund a justice system under strain.
The formula for finance-enabled business development
Client concentration or over-dependence now counts as a top strategic risk for 26% of firms. Cross-selling is an antidote – a way to bolster revenue resilience without relying on client acquisition.
Whistleblowing guidance for in-house lawyers – a call to arms
In-house lawyers are in a unique position to spot wrongdoing. But reporting it is not just potentially dangerous from a personal point of view.
