Compliance & Regulation
Solicitor founder of Axiom fund faces jail after fraud conviction
The solicitor mastermind of the Axiom Legal Financing Fund was yesterday found guilty of five counts of fraud, fraudulent trading and money laundering, and told he faces a lengthy jail sentence
Law Society and SRA to recoup extra £10m from solicitors
Practising fees for solicitors are to increase by 10%, or £10.4m, in the next year, with the practising certificate fee to rise £20, the Law Society and Solicitors Regulation Authority have proposed.
MPs’ watchdog takes on barristers too as new BSB chair
Kathryn Stone is to add overseeing the conduct of barristers to her current role as MPs’ watchdog after she was appointed chair of the Bar Standards Board.
SRA eyes in-house alternative to Solicitors Indemnity Fund after u-turn
The Solicitors Regulation Authority has said it believes “a new consumer protection arrangement within the SRA” was likely to be more cost-effective than retaining the Solicitors Indemnity Fund.
Solicitor found in criminal contempt for “act of colossal stupidity”
A senior City partner who told a client to “burn” a private messaging app after it was served with a search order has been found guilty of criminal contempt of court.
SRA to reinstate annual fee for 60,000 non-practising solicitors
The Solicitors Regulation Authority is to go ahead with plans to reintroduce next April an annual application fee of up to £40 for non-practising solicitors who want to stay on the roll.
Judge throws out “career-ending” contempt claim against solicitor
A High Court judge has rejected a potentially “career-ending” contempt application against a solicitor, describing it as “wholly frivolous” and totally without merit.
“Duped” solicitor fails in challenge to strike-off
A solicitor “duped” into paying over £1.2m in sale proceeds to third parties in what turned out to be property frauds has failed in his appeal against being struck off.
Solicitors could be jailed for new property register failures
Solicitors could be jailed or fined for failures in the way they verify entries on the register of overseas entities, which went live yesterday.
Barrister compliance with transparency rules increases sharply
The Bar has improved its compliance with the rules on transparency and more consumers are shopping around for potential providers, Bar Standards Board research has found.
Blog
Awaab’s Law phase 2: New hazards council tenants can now claim for
The conversation on housing disrepair is moving beyond damp and mould alone. With the rollout of phase 2 of Awaab’s Law, the scope of issues covered is expanding significantly,
Beyond PCP: Can regulators and lawyers work better together next time?
Nearly a decade after the Financial Conduct Authority began investigating the car finance industry, the story of the PCP commission scandal is still unfinished.
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.
