Compliance & Regulation
Government to give SRA power to demand more information from firms
The government is to extend the SRA’s powers to demand information from solicitors and firms beyond money laundering matters to economic crime more generally.
Law firm fined record £20,000 for “reckless” AML breaches
The Solicitors Regulation Authority has fined an Oxfordshire law firm a record £20,000 after finding it “reckless” in failing to comply with the anti-money laundering requirements.
LawtechUK: Regulatory risks of AI “inhibiting law firm adoption”
Hesitation about adopting artificial intelligence by law firms nervous of the risks presented by a regulatory grey area is causing a bottleneck that needs to be cleared.
Failure to comply with Legal Services Act “did not invalidate indictment”
A council’s failure to ensure either a lawyer or ‘exempt’ individual served a Crown Court indictment did not “automatically invalidate” it, the Court of Appeal has ruled.
CILEX strengthens position with Institute of Paralegals acquisition
CILEX has acquired the Institute of Paralegals and its Professional Paralegal Register as it looks to strengthen its position as the body for specialist legal professionals.
Barrister who practised while suspended is disbarred
A barrister who held himself out as practising while he in fact he was serving a suspension has been disbarred after his fourth appearance before a disciplinary tribunal.
Ban for police station representative who illicitly contacted jailed client
An experienced police station representative who communicated with a jailed client via a mobile phone he should not have had has been banned from the profession.
SRA sanctioned for wrongly publishing trainee’s ban
The Solicitors Regulation Authority has been sanctioned in costs after prematurely stating that it had banned a former trainee solicitor from working for law firms.
BSB performance in the red as LSB raises SRA enforcement concerns
Pressure on the Bar Standards Board to improve its performance ratcheted up today after it scored by far the worst of all the legal regulators in the Legal Services Board’s annual assessment.
Solicitor fined for handling follow-on property management work
A retired solicitor has been fined £7,500 for using client accounts as banking facilities over decades to handle property management work for Arab clients.
Blog
Amplifying reach through employee-driven thought leadership
Nine in 10 executives believe thought leadership is critical to building authority, yet only a quarter feel they have implemented a robust strategy.
Divorce escrow: asset sales before final settlement
When significant matrimonial assets are sold before a final financial order is agreed, holding the proceeds safely and neutrally can present real practical challenges.
AML lacks clarity – and standards are suffering
If firms are buckling under the pressure of AML regulations, subject to ever-increasing fines, then something is clearly not working as it should be.
