Compliance & Regulation

The Solicitors Regulation Authority has decided to implement its controversial plan to cut the maximum award from its Compensation Fund from £2m to £500,000.

The Solicitors Disciplinary Tribunal rejected a quarter of the outcomes agreed by the Solicitors Regulation Authority and defendants last year, its annual report has revealed.

Larger law firms face a new levy of £100-200 per £1m of revenue to support the government’s economic crime plan, under proposals outlined by the Treasury yesterday.

Lawyers have become “de facto agents of the Russian state” by helping to smooth the way of Russian money entering the UK, according to Parliament’s Intelligence and Security Committee.

A compliance officer for finance and administration who helped the firm’s owner use £500,000 received for disbursements to prop up the firm has accepted a ban from the profession.

The former head of business development at a leading defendant law firm has been jailed for four years after a police raid discovered 6,000 indecent images of children on his computer and other devices.

A former president of the Chartered Institute of Legal Executives has become the first member of that branch of the profession to be appointed to the Legal Services Board.

Independent websites providing impartial information on the quality of legal services providers are needed to guide people looking for a lawyer, the Legal Services Consumer Panel has argued.

A law firm partner who asked if it was acceptable to call a gay trainee solicitor a “poofter” – and repeated the question to the trainee – has been fined £4,000 by the Solicitors Regulation Authority.

Progress by the legal regulators in understanding and tackling ongoing inequalities in the profession is “too slow” and lacks “strategic direction”, the Legal Services Board (LSB) has said. The oversight regulator said there were “fundamental shortcomings” in the collection of… Read More