Latest news
Money laundering reforms “would make SARs regime risk based”
The government has pledged radical reform of the suspicious activity reports regime and its replacement with an intelligence-led, risk-based focus. The proposals include removal of the existing consent regime, and with it the scrapping of the existing statutory money laundering defence.
Solicitor fined for inappropriate text messages to client
The Solicitors Disciplinary Tribunal has fined a solicitor £5,000 for misconduct after he sent inappropriate texts to a vulnerable client who was the victim of domestic abuse. In the course of its judgment, the tribunal laid down best practice for communications between solicitors and clients, including the need to avoid bad language or being patronising.
Solicitors and barristers “gearing up” for new era of CPD without the need to collect points
Almost half of law firms have already moved to the new approach of ‘continuing competence’ that no longer includes collecting CPD points – nearly six months ahead of it becoming compulsory.Meanwhile, the Bar Standards Board has announced that similar CPD regime for barristers will go live in January 2017.
Software suppliers association ends agreement with Free2Convey
The Legal Software Suppliers Association has ended its agreement with conveyancing portal Free2Convey, it has emerged. Free2Convey was set up by the LSSA last autumn as a rival to the Law Society’s failed conveyancing portal Veyo.
SDT strikes off another solicitor for fabricating documents
A solicitor has been struck off by the Solicitors Disciplinary Tribunal for misconduct involving fabricating documents in order to convince a client that straightforward applications had been made when they had not. It is the latest example of a rash of solicitors facing disciplinary action for fabrications.
Financial services business adds legal advice to offering with ABS licence
The Lifetime Group has become the latest financial services business to add legal advice to its offering by gaining an alternative business structure. Meanwhile, Metamorph Law – which last year announced plans to “acquire, transform and aggregate” high street law firms – has received its ABS licence.
Lower-than-expected court fee income contributes to Ministry of Justice funding black hole
Lower-than-expected court fees from high-value cases and increased demand in the criminal justice system are behind the Ministry of Justice’s request for £427m extra funding over and above its designated department spending limit for 2015-16, it has emerged.
Difficulties with fees and clients but barristers expect direct access work to grow
Ignorance about fees, lack of public awareness and “excessive correspondence” from clients are just some of the challenges faced by direct access barristers, a major report by the Bar Standards Board and Legal Services Board has revealed. However, the “overwhelming consensus” was that direct access work would grow in the next few years.
Ex-solicitor impersonated HMRC official to trick SRA into helping challenge strike-off
Paul Baxendale-Walker, a struck-off solicitor who went on to run an adult film company and Loaded magazine, has been fined after being found guilty of impersonating an official from HM Revenue & Customs in dealings with the Solicitors Regulation Authority.
Brexit would damage lawyers’ access to single market, Treasury predicts
Lawyers will be worse off if the UK leaves the European Union because of a reduction in access to the single market, the analysis published yesterday by the Treasury has claimed. It said that lawyers have faced more trade barriers in the EU than any other professional services sector
Blog
Accountability has to live within governance, not with one person
The assumption has long been that a COLP or COFA is personally exposed to the consequences of anti-money laundering breaches.
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.
