Compliance & Regulation

The Solicitors Regulation Authority may not allow solicitors to pass on to clients the cost of holding their money if negative interest rates become a reality, an official has suggested.

A solicitor has been struck off after trying to intimidate an officer from the Solicitors Regulation Authority by saying he was “genius level talent” who would sue the officer and “end the SRA”.

The High Court has refused to aggregate as one claim various actions a Yorkshire law firm’s indemnity insurer is facing because of a multi-million pound fraud run by one of its partners.

An immigration lawyer who made what he described as “huge money” by facilitating a dubious international finance transaction has been suspended indefinitely by a tribunal.

A solicitor who overcharged two estates by £275,000 has been struck off, but his partner – and younger brother – has avoided the same sanction after saying he was “too trusting”.

Law firms have been urged to change their retainers now so they can charge clients for holding their money, given the “possibility, if not likelihood” of negative interest rates.

An employed barrister convicted of fraud after claiming expenses he was not entitled to has avoided being thrown out of the profession by a Bar disciplinary tribunal.

The 16-office law firm consolidator shut down by the Solicitors Regulation Authority in August has been placed into liquidation owing creditors nearly £17m.

A solicitor who said he was “unable to take control” of his firm’s accounts when he started receiving client money – he admitted not knowing interest should be paid to clients – has been fined £10,000.

A property lawyer who used Tipp-Ex to change the dates of charges he needed to register at Companies House has been struck off by the Solicitors Disciplinary Tribunal.