Compliance & Regulation
Solicitors and insurers set to agree definition of ‘unbundled’ services
Work to agree a definition of unbundled legal services with professional indemnity insurers is close to completion as part of efforts to make unbundling easier for solicitors.
Sexual misconduct cases “lead to rise in SDT anonymity requests”
The increasing number of sexual misconduct cases being handled by the SRA and SDT is fuelling a rise in anonymity requests, regulatory lawyers have said.
London arm of US firm rebuked for breaching Russia sanction rules
The London office of a US law firm has been rebuked for breaching the conditions of a Treasury licence to act for sanctioned Russian clients.
Solicitor who changed LPA and cheque “was not dishonest”
A solicitor who changed the terms of a lasting power of attorney and the date on a cheque without the client’s consent did not act dishonestly, the SDT has ruled.
Solicitor diverted client’s damages to company linked to his wife
A solicitor who diverted some of his client’s damages to a rehabilitation company connected to his wife – and created fake invoices that said it had treated the client – has been struck off.
‘Work hard, play hard’ solicitor suspended for groping colleagues
A male solicitor caught up in a ‘work hard, play hard’ culture at the London office of a US law firm has been suspended for a year for two instances of sexually touching female colleagues.
Call for action to help small law firms adopt technology
Tech adoption by small law firms is being held back by cost, uncertainty and a reluctance to invest in systems that quickly become outdated or non-compliant, according to SRA research.
Law Society warns SRA to avoid “knee-jerk responses” on ethics
The Law Society has advised the Solicitors Regulation Authority against “knee-jerk responses” in attempting to tackle the issue of ethical standards in the profession.
Axiom Ince now set to cost solicitors £41m
The collapse of Axiom Ince is now set to cost the solicitors’ profession £41m in payouts from the SRA Compensation Fund, it has emerged.
Number of fines issued by SRA more than doubles in a year
The Solicitors Regulation Authority issued 173 fines to law firms and individuals in its last financial year, more than twice the number of the previous year.
Blog
Change in regulator shouldn’t make AML less of a priority
While SRA fines for AML have been climbing, many in the profession aren’t confident they will get any relief from the FCA, a body used to dealing with a highly regulated industry.
There are 17 million wills waiting to be written
The main reason cited by people who do not have a will was a lack of awareness as to how to arrange one. As a professional community, we seem to be failing to get our message across.
The case for a single legal services regulator: why the current system is failing
From catastrophic firm collapses to endemic compliance failures, the evidence is mounting that the current multi-regulator model is fundamentally broken.
