Compliance & Regulation
Dual FCA and SRA-regulated business goes into administration
A wealth management firm that a decade ago became one of the first to adopt dual regulation by the SRA and FCA has gone into administration after its key lawyer left.
Exclusive: AI-powered US firm targets UK after $60m fund-raise
A US company that last week announced a $60m Series A fund-raise is set to bring the model of a law firm backed by its AI system to England and Wales, Legal Futures can reveal.
Solicitor’s failure to redeem charges “a warning to profession”
The case of a solicitor who wrongly thought charges on a property had been removed is “a warning that even experienced professionals could make serious errors in judgment under extreme stress”.
Bar Council faces discrimination claim over Black interns scheme
The Bar Council is facing a discrimination claim over its 10,000 Black Interns programme by a white woman who says her application was rejected because of her race.
Partner who acted on Ponzi scheme fined £30k over conflict of interest
A partner who acted on what turned out to be a fraudulent Ponzi scheme has been fined £30,000 for accepting a role to protect the interest of the scheme’s bondholders.
SRA hands out first fixed penalties for AML information failures
The Solicitors Regulation Authority has issued the first fixed fines to firms that failed to provide it with information about their anti-money laundering and sanctions controls.
Solicitor who fabricated attendance note escapes strike-off
A solicitor who created a “false and misleading” attendance note to show that she warned a client about the escalating level of costs has been suspended for two years.
Fine for drunk barrister who collapsed at court
A barrister who collapsed at a court while drunk and was taken to hospital in an ambulance has been fined £1,000 by the Bar Standards Board.
Watchdog takes action over accident management companies’ adverts
Three accident claims management companies – one of which is owned by a law firm – have been found in breach of the Advertising Standards Authority’s rules.
Breach of SRA rules must be “sufficiently serious” to be misconduct
A solicitor’s breach of their regulatory obligations will only amount to misconduct if it is “sufficiently serious”, the Court of Appeal ruled yesterday.
Blog
The SRA’s client money reforms: good intentions, questionable execution
On the face of it, the SRA’s plans to tighten protections around client money sounds sensible. The detail, as ever, tells a more complicated story.
Recruitment, retention and reward in the legal accounts world
Understanding the legal finance market is important – not just for those actively involved in it day-to-day but also for leaders within law firms.
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.
