Compliance & Regulation
Barrister disbarred for making ‘fundamentally dishonest’ PI claim
A barrister who a court found had been fundamentally dishonest in making a personal injury claim has been disbarred.
SRA lays out major reforms to how solicitors hold client money
Major changes to the way law firms hold client money, including not retaining interest and restricting the collection of fees in advance, were proposed yesterday by the SRA.
“Reasons to be cautious” about pre-approval of law firm M&A
There are “reasons to be cautious” around the Solicitors Regulation Authority becoming more involved when law firms go through mergers and acquisitions, it said yesterday.
SRA set to shift balance of who pays for compensation fund
The 50/50 split between individual solicitors and firms in their funding of the SRA Compensation Fund should be changed to 70/30, the regulator has recommended.
Moorhead: “We have to change the way lawyers think and behave”
The leading figure on legal ethics in the UK has called for the creation of an independent commission charged with improving “honesty, integrity and effectiveness in the use of law”.
Barrister who held and dipped into client money suspended
A direct access barrister who impermissibly held a divorce client’s money and then did not pay all of it back has been suspended for 18 months by a disciplinary tribunal.
Barristers “wrongly think they work within AML regulations”
Barristers are wrongly stating that their work is covered by the money laundering regulations in their annual declarations to the Bar Standards Board, it has emerged.
Risk assessment failures land more firms with AML fines
The Solicitors Regulation Authority has issued fines totalling £57,000 to eight more law firms for failures in their anti-money laundering controls.
Solicitor “created hundreds of file notes” to bolster costs claim
A judge has condemned a solicitor for “the worst example of tampering with a file of papers that I have ever encountered” in reducing a bill claimed at nearly £260,000 to zero.
SDT “right to strike off” solicitor involved in fraudulent PI claim
The Solicitors Disciplinary Tribunal was right to strike off a solicitor who took part in a fraudulent personal injury claim, even though he was not the instigator, the High Court has ruled.
Blog
Amplifying reach through employee-driven thought leadership
Nine in 10 executives believe thought leadership is critical to building authority, yet only a quarter feel they have implemented a robust strategy.
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.
