Compliance & Regulation
Tribunal upholds LSB decision not to release Leigh Day emails
The First-tier Tribunal has upheld the decision of the Legal Services Board not to release an email exchange with the Solicitors Regulation Authority over the Leigh Day case.
Licensed conveyancers to embrace third-party managed accounts
A revised accounts code that expressly allows firms of licensed conveyancers to use third-party managed accounts has been approved by the Legal Services Board.
Firm boss cleared of telling clients to delete holiday posts
The managing director of a Liverpool law firm has been cleared a tribunal of telling holiday sickness clients to delete social media posts which could undermine their claims.
90% of law firms “breaching transparency rules”
The vast majority of law firms are still failing to comply with the SRA rules on price transparency, a survey has found. The news comes with the regulator planning to step up its checks.
SRA to beef up AML monitoring of law firms
The Solicitors Regulation Authority is to beef up its monitoring of firms’ anti-money laundering efforts and begin a review of continuing competence, its draft 2020/21 business plan has revealed.
SRA: Firms can prolong extended PII cover with agreement
Law firms unable to secure professional indemnity insurance because of Covid-19 can prolong the extended indemnity period by agreement and with regulatory approval.
Law firm facilitated £8m “cheque-clearing scheme”
An experienced solicitor who allowed her firm’s client account to be used as a banking facility in a £8m “cheque-clearing scheme” has been struck off.
Court of Appeal upholds law firm’s Chinese wall
A law firm acting for different defendants against the same claimant does not owe that claimant a true fiduciary duty, and so it does not have to prove its Chinese Wall works, the Court of Appeal has ruled.
Solicitor cleared over alleged confidentiality breach
A solicitor accused of disclosing to a client confidential information about a former client has been cleared of wrongdoing by a disciplinary tribunal.
Junior lawyers “lose confidence” in SRA after Matthews case
Junior lawyers have lost confidence in the Solicitors Regulation Authority’s approach to dealing with inexperienced solicitors who have mental health issues or worked in toxic environments.
Blog
It’s time for law firms to ask tougher questions
For years, many law firms have treated ID verification as a box-ticking exercise. Run a liveness check, match a face to a document and move on. But that is no longer good enough.
Business fatigue to AI will risk job security
Whilst we know professional learning has always been part of career paths, to hire, retain and keep talent, AI needs to be embedded as a core part of this training.
On good authority? GenAI and the reputational risks to law firms
As GenAI’s influence grows, so do the risks which are already playing out in courtrooms across England and Wales, where some early adopters are setting precedents they would rather not.
