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
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
