Compliance & Regulation
SDT rules that solicitor posted antisemitic tweets
The Solicitors Disciplinary Tribunal yesterday upheld allegations that a solicitor published antisemitic and offensive posts on social media and also abused SRA staff.
Biggest and smallest regulators top LSB performance assessment
Only the biggest and smallest legal regulators – the Solicitors Regulation Authority and Costs Lawyer Standards Board – have ‘passed’ their annual performance assessments by the Legal Services Board.
Government rejects major changes to SARs regime
The Home Office has rejected changes proposed by the Law Commission almost five years ago, which would have introduced statutory guidance on the suspicious activity reports.
Ministers ask LSB to set out strategy on AI use in legal sector
Ministers have asked the Legal Services Board to outline how it plans to approach the regulation of artificial intelligence in the sector by the end of April.
Solicitor fined £10,000 for directing client’s fees to own bank account
An experienced solicitor has been fined more than £10,000 for taking payments from a client into his own bank account after striking an agreement with the SRA.
New ICO certification for lawyers gives “certainty” on data processing
The Information Commissioner’s Office has approved a certification scheme which it says will provide law firms, chambers and others with “certainty” when processing personal data.
Scotland edges closer to full-blooded ABSs
Reforms to the way legal services are regulated north of the border, including the introduction of alternative business structures with majority non-lawyer ownership, moved a step closer last week.
Show some “energy” to tackle ethics concerns, LSB chief tells regulators
The “lack of energy” from legal regulators to deal with what appears to be strategic failures of regulation is becoming “mildly ridiculous”, the chief executive of the LSB has argued.
NDA and SLAPP misuse continuing despite regulatory warnings
Solicitors are still engaging in dubious practices around non-disclosure agreements and strategic lawsuits against public participation, despite regulatory warnings, it was claimed last week.
Scale and pace of law firm M&A “will increase this year”
There is a “higher level of confidence” among law firm buyers and “clear signs that the scale and pace” of M&A will increase in 2024, a report has found.
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.
