Property
City giant uses generative AI to develop lease reporting tool
City law firm BCLP has used generative artificial intelligence to develop a lease reporting tool which is being rolled out to UK clients this month.
Value of legal services market “to hit £50bn” this year
The legal services market will continue to grow in 2024, hitting a turnover of £50bn with a “resilient” corporate law sector boosted by “stronger economic conditions” later in the year.
“Unstuffy” ABS hits £7m turnover in less than five years
A Yorkshire alternative business structure founded in 2019 by a solicitor and non-lawyer has grown its turnover from £500,000 in year one to £7m as it expands its range of services.
Minister urges conveyancers to increase pace of innovation
Conveyancers have “a central role” in realising a digital home buying and selling process but innovation needs to happen at a greater pace, the housing minister said last week.
SRA hands out fines nearing £50,000 for AML failures
The Solicitors Regulation Authority has this week issued fines totalling nearly £50,000 to two law firms and a solicitor over various breaches of anti-money laundering rules.
Lawyer rebuked for not checking ID of walk-in client
A chartered legal executive who failed to check the identity of a walk-in client who said the firm had acted for him in the past has been rebuked by the Solicitors Regulation Authority.
Digital property group aims to “accelerate use of AI”
Upfront information and accelerating the use of emerging technology such as AI are among the priorities that the Digital Property Market Steering Group has pledged to progress this year.
Land Registry pilot aims to stop lenders chasing conveyancers
HM Land Registry is working with mortgage lenders to ensure they no longer need to chase conveyancers for updates on the progress of registration applications.
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.
Solicitor who breached undertakings agrees to leave profession
A solicitor whose failure to comply with multiple undertaking he gave caused significant losses for investors in two property developments, has agreed to leave the profession.
Blog
Why good governance matters when managing Law Society forms
Everyday legal transactions rely on Law Society forms. But they are often treated as static templates rather than what they really are: living documents that change over time.
A letter from the SRA? Your first reaction matters
An email from the SRA has a way of rearranging a working day. It arrives in the same inbox as everything else, often in the same measured tone, yet it carries a different weight.
Regulate sole practices on evidence, not turnover
For a sole practice, the SRA’s plan that I cannot hold a compliance role if my firm has more than £600,000 of turnover is not a measure of risk. It is a ceiling on growth.
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