Compliance & Regulation
“Over-excited” firms risk ChatGPT data breaches
Law firms and other businesses that are “over-excited” by the potential of ChatGPT to boost productivity risk inputting sensitive and confidential client information.
SRA to use new economic crime power “hundreds of times a year”
The Solicitors Regulation Authority expects to use its proposed new power to demand information from solicitors about economic crime several hundred times a year, it has emerged.
SRA fines firm £5k for persistent anti-money laundering failures
The Solicitors Regulation Authority has continued to flex its new fining powers by issuing a £5,000 penalty against a law firm for six years of anti-money laundering failures.
Two for two: struck-off Irish solicitor struck off in England and Wales
A solicitor already struck off in Ireland for a different offence has now been struck off in England and Wales after using one client’s money to pay another’s tax liability.
Partner suspended for trying to “trick” farmer out of tenancy
A partner in a large Midlands law firm, who tried to “trick” an elderly farmer out of part of his protected tenancy in the way he sent notices to quit, has been suspended for a year.
High Court: Solicitor did not “condone” partner’s £16m fraud
The insurer of London law firm Jirehouse – whose founder was jailed last year for fraud – has failed its ongoing bid to exclude liability for £6m in losses suffered by a client.
Solicitor who misled clients over LPA forms is struck off
A solicitor who told clients that the Office of the Public Guardian was to blame for what were actually her own errors in registering lasting powers of attorney has been struck off.
SRA sets out fee caps for financial mis-selling claims
The SRA has set out the fee caps it is planning to impose to prevent law firms handling financial product or services mis-selling claims from charging “excessive” fees.
Irwin Mitchell contact centre worker pretended to be lawyer
A contact-centre worker at Irwin Mitchell, who led another law firm to believe she was acting in an employment matter against its client, has been banned from working for law firms.
Metamorph closures have cost profession £1.4m so far
The closure of 16 offices of the Metamorph Group by the Solicitors Regulation Authority (SRA) has so far cost the profession £1.4m, it has emerged.
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.
