Compliance & Regulation

The LSB has made a series of relatively minor changes to its new statutory guidance on how legal regulators should implement the new regulatory objective to tackle economic crime.

A partner whose “head in the sand” approach meant a case spiralled out of control after he failed to serve points of dispute on a bill of costs in time has been struck off.

Solicitors Regulation Authority plans for new rules on how law firms handle complaints could lead to “overregulation”, the Law Society has warned.

The Solicitors Regulation Authority has fined a South-East London law firm £114,000 for anti-money laundering failures, one of the largest to date.

The former chair of CILEX – who has previously called for a radical shift in the way lawyers are regulated – is to take over as chair of the Bar Standards Board in September.

The Law Society has ratcheted up the pressure on the SRA over Axiom Ince by saying it is “not sufficiently assured” that the regulator is doing its job properly.

The Ministry of Justice is taking forward work on whether interest on lawyers’ client accounts could be diverted to fund legal services for people unable to afford advice.

An experienced solicitor has been jailed for his part in helping to run two bogus investment schemes – one involving litigation funding – that conned over 150 victims out of £6m.

A law firm that failed to identify that the beneficial owner of its client was a politically exposed person (PEP) has been fined £173,000 by the Solicitors Regulation Authority.

Complaints about contentious social media posts by barristers have fuelled a jump of a third in reports to the Bar Standards Board, cases described as “inherently complex”.