Compliance & Regulation
Solicitor failed to do proper checks on PEP and misused client account
A solicitor who failed to undertake proper AML checks on a client who was a politically exposed person and also allowed him to use his firm’s client as a banking facility, has been fined.
Rapist’s conviction not unsafe due to his advocate’s later strike-off
A man convicted of rape has lost an appeal against conviction that was based partly on the fact that his solicitor was facing disciplinary action by the SRA at the time.
Regulators told how to implement new economic crime duty
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.
Partner struck off after sticking “head in the sand” over bill
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.
SRA plans for law firm complaints handling risk “overregulation”
Solicitors Regulation Authority plans for new rules on how law firms handle complaints could lead to “overregulation”, the Law Society has warned.
SRA slaps £114k fine on law firm for AML failings
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.
New BSB chair favours radical reform of legal regulation
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.
Law Society “not assured” of SRA’s performance post-Axiom Ince
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.
Government still eyeing client account interest to fund free legal advice
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.
Solicitor jailed for role in multi-million-pound investment fraud
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.
Blog
Why law firms are getting AI supervision wrong
The profession’s response to AI supervision failures misunderstands the nature of LLM output – there needs to be for a shift in the culture.
Beyond the PII premium – rethinking risk
Professional indemnity insurance renewal is often treated as an annual pricing exercise. But it is also a chance to show how effectively you identify, manage and mitigate risk.
The AI governance gap in law firms and why it matters now
A third of law firms are already using AI tools with no formal policy in place to govern how AI gets used, what data goes into it, or who’s accountable when something goes wrong.
Reports
Associates
