Compliance & Regulation
Solicitor fined £15,000 fine for AML due diligence failures
A partner who failed to conduct proper client due diligence in property transactions that had signs of money laundering has been fined £15,000.
Private client lawyer who pocketed clients’ fees is struck off
A salaried partner who told clients to pay him in cash or with cheques made out to him, which he kept, has been struck off by the Solicitors Disciplinary Tribunal.
BSB to scrap requirement for barristers to have a degree
The BSB is planning to scrap the requirement that Bar students have at least a lower second-class degree, opening the way for those with third-class degrees or no degree at all to become a barrister.
First diversity profile of in-house solicitors puts public sector to fore
The public sector is home to a more diverse group of in-house solicitors than the private sector, Solicitors Regulation Authority data has shown.
Ex-Dentons lawyer barred after groping colleague at work social
A Scottish solicitor who groped a colleague while working in the City at Dentons has had controls placed on his future employment in the sector.
Legal Services Board begins hunt for new chief executive
The Legal Services Board is on the hunt for a new chief executive after Matthew Hill announced that he would be stepping down at the end of March 2024.
Tribunal rejects evidence that ‘Nazi salute’ barrister goose-stepped too
The barrister who gave a Nazi salute to magistrates during proceedings did not also goose-step or say “Sieg Heil”, despite evidence suggesting he did, a tribunal has found.
Legal practice course pass rate fell as SQE was introduced
The pass rate for legal practice course students fell to below 50% in the first year of the Solicitors Qualifying Exam, new figures have shown.
Drink-drive solicitor handed unusually high £10,000 fine
The SRA has handed out a £10,000 fine – reduced from £16,000 due to co-operation – to a solicitor convicted of drink driving, an unusually high figure for the offence.
Tribunal slaps Clyde & Co with £500k fine for AML failures
Leading City firm Clyde & Co has been fined £500,000 by the Solicitors Disciplinary Tribunal – equalling the highest amount ever – for money laundering offences.
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.
