Compliance & Regulation
Axiom Ince review to investigate regulation of ‘accumulator firms’
The Legal Services Board review of the collapse of Axiom Ince will include not just the role of the Solicitors Regulation Authority but also its approach to law firm consolidators.
SRA hands out another hefty fine for drink-drive conviction
The Solicitors Regulation Authority has imposed another hefty fine on a solicitor convicted of drink driving as the impact of its new approach to fines hits home.
Deferring point of call will damage diversity and inns, says top KC
Delaying the point at which barristers are called to the Bar until after obtaining pupillage risks reducing the diversity and strength of the profession, a former Bar Council chair has argued.
LSB to identify gaps in regulation that allow unethical conduct
The Legal Services Board is to begin work on identifying the gaps in regulation that have allowed unethical or unprofessional conduct to emerge.
Solicitor fined £9,000 for improper client account transfers
A solicitor who allowed made improper transfers from client account to his firm’s office account has been fined £9,000 by the Solicitors Regulation Authority.
LSB rejects call to make Axiom Ince review independent
The Legal Services Board has firmly rejected a call from five local law societies to make its review of the Axiom Ince scandal independent.
Solicitor jailed for jury misconduct suspended for eight years
A solicitor jailed for undertaking her own research while serving on a jury has been suspended from practice for eight years, until her ban from sitting on juries ends.
Green light for CILEX lawyers to gain higher rights of audience
Experienced CILEX advocates will be able to apply for higher rights of audience in civil and criminal work soon after the Legal Services Board approved the move.
LSB warns regulators to meet deadline on new transparency rules
The Legal Services Board has warned the frontline regulators that it will take action if they do not deliver new measures to improve transparency around lawyers’ services by September.
SRA hands out fines nearing £50,000 for AML failures
The Solicitors Regulation Authority has this week issued fines totalling nearly £50,000 to two law firms and a solicitor over various breaches of anti-money laundering rules.
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.
