Compliance & Regulation
Public “may reasonably question” SRA approach to Post Office scandal
Members of the public may “reasonably question” the ‘wait and see’ approach of the SRA to disciplinary action in the Post Office scandal, a regulatory expert and former SRA manager has said.
SRA goes ahead with fee caps for financial mis-selling claims
The SRA is going ahead with plans to introduce the same system of fee caps for law firms handling financial services mis-selling claims as the Financial Conduct Authority has for CMCs.
Law firm administrator claimed £1,450 for office tea and coffee
A law firm administrator who paid herself £1,450 using pre-signed cheques, which she claimed was to refund money she had spent on office tea and coffee, has been barred from the profession.
Barrister suspended for “angry and violent” assault
A barrister has been suspended for six months after being convicted for what a tribunal described as “a sustained, angry and violent physical assault” which was “clearly the result of heavy drinking”.
Two law firms fined thousands for AML non-compliance
Two law firms that have not had their anti-money laundering policies in order for several years have been fined by the Solicitors Regulation Authority.
Firm held hundreds of residual balances for up to 28 years
A law firm that held nearly £600,000 in hundreds of residual client balances dating back 28 years has been fined by the Solicitors Regulation Authority.
Exclusive: SRA begins fundamental review of client protection
The SRA today starts a conversation about the future of client protection arrangements, the extreme end of which could see the end of firms holding client money and of the Compensation Fund.
Solicitor jailed for stealing money using powers of attorney
A solicitor has been jailed for two years after admitting abusing her position to steal tens of thousands of pounds from two vulnerable people, one of whom was her father.
Legal helpline adviser not under duty to advise prospective client
A legal helpline adviser at Irwin Mitchell was not under a duty to advise a prospective client of steps she needed to take to protect her position, the Court of Appeal has ruled.
SRA to investigate regulating CILEX paralegals and students
The Solicitors Regulation Authority is to consult on how it would regulate CILEX paralegals and students in the next stage of its work on assuming oversight of the legal executive profession.
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.
