Compliance & Regulation
Axiom founder loses appeal over 14-year fraud sentence
Timothy Schools, the struck-off solicitor jailed for 14 years last summer for pocketing at least £20m from the Axiom Legal Financing Fund, has failed in a bid to reduce his sentence.
Managers need to challenge bad office behaviour “immediately”
Law firm managers who witness unfair treatment should intervene immediately to stop it if possible, the Solicitors Regulation Authority has said.
Solicitor fined over conflict of interest in SDLT avoidance schemes
A partner who acted for property purchasers and lenders and failed to tell the latter that the former were using stamp duty land tax avoidance schemes has been fined.
LSB looks to beef up regulatory response to misuse of NDAs
The need for a “strengthened and harmonised regulatory approach” to tackle the misuse of non-disclosure agreements is being probed by the Legal Services Board.
Partner struck off for dishonesty over expenses claims
A partner who tried to “obfuscate his charging of personal expenses” to clients of international firm Reed Smith has been struck off.
City law firm accused of “untenable” Post Office conflict of interest
Herbert Smith Freehills was yesterday accused of being in an “untenable” conflict of interest with its continued role in the Post Office scandal compensation schemes.
Solicitor struck off after misleading regulators
A solicitor who misled the Solicitors Regulation Authority and the Insolvency Service, and failed to co-operate with the Legal Ombudsman has been struck off.
Solicitor avoids strike-off for dishonest email to opposing side
A solicitor’s “moment of madness” in misleading an opposing firm on a matter while she was suspended on disciplinary grounds has avoided being struck off.
Solicitor who forged trustees’ signatures struck off
A solicitor who used forged cheques from trustees or money from another client to cover up the fact she had failed to submit tax returns on time has been struck off.
LSB to put focus on “ethical competence” of lawyers
There needs to be more focus on the “ethical competence” of lawyers throughout their careers, the Legal Services Board has suggested.
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.
