Compliance & Regulation
Solicitor fined £10,000 for directing client’s fees to own bank account
An experienced solicitor has been fined more than £10,000 for taking payments from a client into his own bank account after striking an agreement with the SRA.
New ICO certification for lawyers gives “certainty” on data processing
The Information Commissioner’s Office has approved a certification scheme which it says will provide law firms, chambers and others with “certainty” when processing personal data.
Scotland edges closer to full-blooded ABSs
Reforms to the way legal services are regulated north of the border, including the introduction of alternative business structures with majority non-lawyer ownership, moved a step closer last week.
Show some “energy” to tackle ethics concerns, LSB chief tells regulators
The “lack of energy” from legal regulators to deal with what appears to be strategic failures of regulation is becoming “mildly ridiculous”, the chief executive of the LSB has argued.
NDA and SLAPP misuse continuing despite regulatory warnings
Solicitors are still engaging in dubious practices around non-disclosure agreements and strategic lawsuits against public participation, despite regulatory warnings, it was claimed last week.
Scale and pace of law firm M&A “will increase this year”
There is a “higher level of confidence” among law firm buyers and “clear signs that the scale and pace” of M&A will increase in 2024, a report has found.
Public “may reasonably question” SRA approach to Post Office scandal
Members of the public may “reasonably question” the ‘wait and see’ approach of the SRA to disciplinary action in the Post Office scandal, a regulatory expert and former SRA manager has said.
SRA goes ahead with fee caps for financial mis-selling claims
The SRA is going ahead with plans to introduce the same system of fee caps for law firms handling financial services mis-selling claims as the Financial Conduct Authority has for CMCs.
Law firm administrator claimed £1,450 for office tea and coffee
A law firm administrator who paid herself £1,450 using pre-signed cheques, which she claimed was to refund money she had spent on office tea and coffee, has been barred from the profession.
Barrister suspended for “angry and violent” assault
A barrister has been suspended for six months after being convicted for what a tribunal described as “a sustained, angry and violent physical assault” which was “clearly the result of heavy drinking”.
Blog
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.
The power of participation for trainees and apprentices
It’s important as a trainee or an apprentice to get involved in the life of your firm – even under the pressure of discovering how to navigate professional life and now the demands of the SQE.
