Compliance & Regulation
AML reforms could see banks ask for details of solicitors’ clients
Proposed government changes to anti-money laundering rules around pooled client accounts could raise issues around client confidentiality and privilege, experts have warned.
Practising barrister named a tax avoidance promoter in HMRC first
A practising barrister has for the first time been added to HM Revenue & Customs’ list of tax avoidance promoters.
Public access barristers used mainly for advice, not representation
People who instruct barristers through the public access scheme are much more likely to be seeking advice than representation in court, new research has indicated.
Strike-off for solicitor who deleted and lied about email
A solicitor at a national law firm who deleted a client’s email from its document management system “to try to cover up that he had not dealt with it” has been struck off.
Two-thirds of law firms breaking residual balance rules
A leading firm of accountants says two-thirds of law firms whose books it examined for regulatory reports had broken the rules on residual balances.
“Weed out chancers” with £50 Legal Ombudsman complaint fee
The Legal Ombudsman should introduce a nominal complaint fee of £50 to “weed out those whom one might describe as ‘chancers’”, Birmingham Law Society has proposed.
Solicitor who lied to client “to buy herself time” is struck off
A solicitor who admitted lying to a client about receiving a medical report “to buy herself time” has been struck off by the Solicitors Disciplinary Tribunal.
SDT rejects managing partner’s bid to blame junior solicitor for errors
A managing partner has failed to convince the SDT to blame the one-year qualified solicitor he was supervising for failures on a conveyancing transaction at an undervalue.
Another failure for SRA in Daily Mail sting cases
Two of the three solicitors accused by the Daily Mail of offering to help an undercover reporter concoct a false asylum claim have now been cleared of misconduct.
Suspension for solicitor who acted on both sides of transaction
A solicitor has been suspended over a “dereliction of duty” that saw him act on both sides of the transfer of an elderly and vulnerable client’s sole residence to a neighbour for nil consideration.
Blog
Change in regulator shouldn’t make AML less of a priority
While SRA fines for AML have been climbing, many in the profession aren’t confident they will get any relief from the FCA, a body used to dealing with a highly regulated industry.
There are 17 million wills waiting to be written
The main reason cited by people who do not have a will was a lack of awareness as to how to arrange one. As a professional community, we seem to be failing to get our message across.
The case for a single legal services regulator: why the current system is failing
From catastrophic firm collapses to endemic compliance failures, the evidence is mounting that the current multi-regulator model is fundamentally broken.
