Compliance & Regulation
Law firm that failed to spot it was acting for PEP fined £173k
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.
Barristers’ social media activity causes spike in complaints to BSB
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”.
Uncertainty over advocates’ immunity could have “chilling effect”
A High Court ruling casting uncertainty over the immunity of advocates for what they say and do in court could have a “chilling effect”, the Bar Council has warned.
Barrister loses appeal against disbarment over immigration work
A barrister disbarred for supervising an immigration firm whose registration had been cancelled by the Immigration Advice Agency has failed in his appeal against the decision.
Treasury sets out reforms to Money Laundering Regulations
The government has outlined how it will improve the anti-money laundering regime by publishing a slew of planned changes to the underlying regulations.
LSB: Regulatory action needed to tackle law’s diversity problems
The profession has failed to make “significant progress in tackling the structural and cultural barriers to encouraging equality and diversity”, the LSB has declared.
SRA to quiz volume claims firms about compliance
The Solicitors Regulation Authority is to demand assurances from firms conducting volume consumer claims that they are meeting their professional obligations.
TPMAs “could help” law firms, says National Risk Assessment
The emergence of third-party managed accounts “may, in time, reduce” the risk of law firms’ client accounts being used by criminals for money laundering, the government said yesterday.
BSB clears silk over Supreme Court trans ruling criticism
The Bar Standards Board has rejected a complaint against high-profile KC Jolyon Maugham over his criticism of the Supreme Court’s ruling in the For Women Scotland case.
Law firm COO used company credit card for £300k of personal spend
The chief operating officer of a law firm found to have used her company credit card for £300,000 of personal expenses has been disqualified from working in the profession.
Blog
From ‘year zero’ to £6.5m – how a law firm found its second life
In 2018, I hit what I call ‘year zero’. On paper, Olliers Solicitors was a top-tier criminal defence firm but beneath the surface, I could see we were at a crossroads.
Linklaters’ chief growth officer takes the ‘blank sheet’ challenge
In the third and final part of this series, Lucy Murphy, chief growth officer at magic circle firm Linklaters, outlines her vision for the law firm of the future.
The ‘blank sheet’ challenge, part 2 – what would you do differently?
In the second part of this blog series, Shainul Kassam, managing director of small London firm Fortune Law, sets out how she would set up a law firm now.
