Property
CMA action “would put upfront information back on property agenda”
It may take strong enforcement action by the Competition and Markets Authority to make the property sector realise that upfront material information remains a priority.
Paralegal rebuked for £1.85m payment error
A senior paralegal has been rebuked for wrongly requesting the release of at least £1.85m to a property developer which later went bust, leaving his law firm to repay buyers.
Solicitor tried to stop counterpart reporting breach of undertaking
A solicitor who breached an undertaking and then tried to stop his opposite number reporting him to the Solicitors Regulation Authority has been struck off.
Conveyancers launch own guidance to reduce enquiries
A grassroots initiative to reduce the number of unnecessary enquiries which can delay conveyancing transactions has gone live.
Law Society “pauses” work on material information form
The Law Society has “paused” work on a material information form for conveyancers, after National Trading Standards withdrew it guidance on the issue last month.
Clients must understand conveyancers’ climate change role
Conveyancers must make it “very clear” to clients whether or not they are taking on liability in checking for climate change issues, a director at a leading indemnity insurer has warned.
Conveyancing instructions up by a third as completion times fall
Conveyancing instructions rose by almost a third last year, while completion times fell, while seven out of 10 home buyers were more likely to choose a conveyancer that was 100% digital.
Investigation raises doubts about rigour of Law Society’s CQS
Seven in 10 law firms fined for anti-money laundering breaches in recent months have Conveyancing Quality Scheme accreditation, raising serious questions about how it is checked and enforced.
City partner “erroneously” paid out £2.2m to developer client
A partner at DWF has been fined £14,000 for wrongly approving £2.2m in payments to a developer which later went bust, leaving the firm to recompense out-of-pocket buyers.
Solicitor who worked for three firms at same time struck off
A locum solicitor whose timesheets claimed for the same time from two different firms – while employed full-time at a third – has been struck off.
Blog
Change in regulator shouldn’t make AML less of a priority
While SRA fines for AML have been climbing, many in the profession aren’t confident they will get any relief from the FCA, a body used to dealing with a highly regulated industry.
There are 17 million wills waiting to be written
The main reason cited by people who do not have a will was a lack of awareness as to how to arrange one. As a professional community, we seem to be failing to get our message across.
The case for a single legal services regulator: why the current system is failing
From catastrophic firm collapses to endemic compliance failures, the evidence is mounting that the current multi-regulator model is fundamentally broken.
