Compliance & Regulation
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.
Solicitor struck off for sub-letting council home
A solicitor convicted of illegally subletting his council flat knew “right from wrong” despite ill health and personal problems, the Solicitors Disciplinary Tribunal has found.
Partners fined for sitting on almost 1,000 residual balances
Four partners in a Welsh law firm have been fined for sitting on 979 residual balances, totalling over £468,000, for “lengthy periods of time” and where there had been no activity for six months.
SRA paralegal banned after child offences conviction
A paralegal who was working at the Solicitors Regulation Authority has been banned from the profession after being jailed for online sexual offences involving children.
Solicitor who lied about lost documents to appeal strike-off
A former junior solicitor who was struck off after lying about losing documents she was working on while acting for the Solicitors Regulation Authority, is appealing against the decision.
Blog
Is your Google Ads budget funding your competitors’ AI visibility?
If your cost-per-click has crept up again this year, you’ve probably assumed the market simply got more expensive. That’s the wrong way to read what’s happening.
Containing the spread of unapproved AI
Nearly 60% of fee-earners admit to using unapproved tools (like free versions of ChatGPT). Yet 68% of firm leaders are confident there is zero risk of unapproved AI being used for client work.
When AI adoption goes wrong, costs add up fast
City AM recently reported that London is fighting to claim the title of ‘global capital of legal AI’. However, it’s crucial we remember that adoption alone does not create value.
