Compliance & Regulation
SRA “has not justified” huge compensation fund levy rises
The Solicitors Regulation Authority has not done enough to justify the huge increases in compensation fund contributions for the coming year, the Law Society has argued.
SRA: Law firms continuing to hold client money “not inevitable”
The Solicitors Regulation Authority has dropped its biggest hint so far that it could initially restrict and ultimately end solicitors holding client money.
Regulators’ efforts to improve standards in coroners’ courts stalling
A cross-regulator effort to improve the standard of practice in coroners’ courts has had limited effect, the first evaluation of the initiative has found.
Firms face new rule to publish price information for all services
Law firms regulated by CILEx Regulation could become the first – but not the last – required to publish price and service information for all the legal services they provide.
£10k fine for solicitor who amended transfer without client consent
A solicitor who amended and lodged a property transfer without her client’s knowledge or consent has been fined £10,000 by the Solicitors Regulation Authority.
SRA fails in appeal over solicitor cleared of AML breaches
The High Court has upheld a ruling by the SDT that a solicitor’s errors in conducting due diligence for anti-money laundering purposes did not amount to professional misconduct.
Scottish solicitors to vote on ditching support for ABSs
Solicitors in Scotland will tomorrow vote on whether to oppose government plans to push ahead with alternative business structures.
Conveyancer backdated deed he had forgotten to draft
A vastly experienced conveyancer who backdated a deed of easement he had forgotten to prepare as part of a transaction has been barred from working in the profession.
Let us lead on equality, Bar Council chair tells BSB
The chairman of the Bar Council has urged the Bar Standards Board to let it lead work on improving equality, diversity and inclusion in the profession.
SRA’s client money warning: partners need to replace money at once
Law firm partners have been told that they must dip into their own pockets to replace any shortages on client accounts immediately upon discovery.
Blog
Client account interest is not spare change
The proposed Interest on Lawyers’ Client Accounts scheme is being framed as a sensible, international, “tried and tested” way for the profession to help fund a justice system under strain.
The formula for finance-enabled business development
Client concentration or over-dependence now counts as a top strategic risk for 26% of firms. Cross-selling is an antidote – a way to bolster revenue resilience without relying on client acquisition.
Whistleblowing guidance for in-house lawyers – a call to arms
In-house lawyers are in a unique position to spot wrongdoing. But reporting it is not just potentially dangerous from a personal point of view.
