Compliance & Regulation
Solicitor fined for failing to spot money laundering red flags
A solicitor who failed to spot red flags for potential fraud/money laundering while acting on two loans worth £464,000 has been fined £15,000.
Barrister disbarred for sexual harassment was in “position of power”
A senior male barrister who sexually harassed a female junior shortly out of pupillage “must have appreciated that he was in a position of power and importance” to her.
Solicitor jailed for using drug money to pay mortgage struck off
A solicitor jailed for 26 months last year for using drug money generated by his twin brother to pay a mortgage has been struck off.
Mazur appeal lawyer sets out Court of Appeal battleground
The Court of Appeal hearing the Mazur case will have to decide between statutory interpretation and “the contextual argument”, the solicitor bringing the appeal said last week.
SRA hands out £550k in AML fines in three months
The Solicitors Regulation Authority has levied fines totalling £550,000 in the past three months on law firms that breached basic anti-money laundering rules.
Highest-earning barristers set to pay more to practise
The Bar Council and Bar Standards Board are looking to increase the cost of practising for barristers by 4% in the coming year, with a new band for those earning £2m.
Reports to BSB about barrister conduct jump by 24%
There has been a 24% spike in reports about barristers to their regulator this year, according to new figures from the Bar Standards Board.
LSB sets out new approach to improving equality and diversity
Safeguarding the wellbeing of those facing enforcement action should be part of legal regulators’ duty to support equality and diversity, the Legal Services Board said yesterday.
Consolidation laid bare as number of law firms falls below 9,000
The number of law firms in England and Wales has dipped below 9,000 for the first time in recent memory after dropping by nearly 2,000 over the past 15 years.
Law Society calls for urgent SRA advice on impact of Mazur on AI
The SRA needs to provide urgent advice on how artificial intelligence can be used in litigation in compliance with the Mazur ruling, the Law Society has said.
Blog
Divorce escrow: asset sales before final settlement
When significant matrimonial assets are sold before a final financial order is agreed, holding the proceeds safely and neutrally can present real practical challenges.
AML lacks clarity – and standards are suffering
If firms are buckling under the pressure of AML regulations, subject to ever-increasing fines, then something is clearly not working as it should be.
The power of participation for trainees and apprentices
It’s important as a trainee or an apprentice to get involved in the life of your firm – even under the pressure of discovering how to navigate professional life and now the demands of the SQE.
