Compliance & Regulation
Paralegal jailed for stealing £438k from law firm to feed gambling habit
A former paralegal at national law firm BLM has been jailed for three years and three months after pleading guilty to stealing £438,000 from the firm to feed his gambling habit.
MPs and peers urge bigger fines for lawyers who break AML rules
MPs and peers have called for “a radical overhaul” of anti-money laundering supervision, with regulators of lawyers urged to issue wrongdoers with “bigger, more public” fines.
Plan to reduce time limit for complaints to LeO “goes too far”
A proposal by the Legal Ombudsman to cut the time limit for consumers to bring a complaint from six years to one “goes too far”, the Bar Standards Board has argued.
Solicitor who caused 25 claims on compensation fund struck off
The Solicitors Disciplinary Tribunal has struck off a solicitor whose conduct has led to 25 claims on the SRA Compensation Fund totalling £750,000 from conveyancing clients.
Law firms selling funeral plans “may need FCA regulation”
Law firms selling pre-paid funeral plans as intermediaries may need to be regulated by the Financial Conduct Authority, the Solicitors Regulation Authority has warned.
SRA disciplinary decisions could stay in public domain for longer
Details of disciplinary and other regulatory action taken by the Solicitors Regulation Authority could be published for longer than the current three years to combat misinformation online.
Listed compliance company targets law firms with acquisition
Listed company Marlowe has made Compliance Office – a business that advises law firms on compliance with Solicitors Regulation Authority rules – the latest addition to its fast-growing legal arm.
Judge tells regulators to use summary processes against vexatious litigants
Legal regulators need to have summary processes in place to deal with vexatious litigants who use their procedures to continue a “proxy war” against lawyers, a High Court judge has said.
Solicitor struck off for sexually assaulting friend’s wife
A solicitor has been struck off for sexually assaulting the wife of a “long-term friend” as she slept, after drinking downstairs with her husband who fell asleep.
SRA budget to rise £5.3m this year as cost of living crisis bites
The Solicitors Regulation Authority is set to increase its budget by £5.3m in the coming year, with staff costs and the Solicitors Qualifying Exam the main drivers.
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.
