Property
Property lawyers attack “punitive” AML fining regime
The “punitive” fining regime for anti-money laundering rule breaches operated by the Solicitors Regulation Authority has left lawyers feeling “fearful”.
Land Registry to publish law firms’ “avoidable” requisition rates
HM Land Registry is to publish data this autumn showing the number of avoidable requisitions it has to raise with every conveyancing firm.
Stamp duty deadline pushed conveyancing fees to “all-time high”
Conveyancing fees hit an “all-time high” in the first quarter of this year in the run-up to the stamp duty deadline, with the average figure up by almost 12% on the same period last year.
Conveyancers “should advise on liability from climate risks”
Solicitors should advise clients in property transactions on the potential liability they face from “climate risks”, the Law Society has said in new guidance.
Confusion reigns after property information guidance withdrawn
The withdrawal of the material information guidance for estate agents was met last week with a mixture of confusion, alarm and celebration by lawyers.
Law firm takes assignment of client’s claim after pay out
A law firm that paid out £750,000 to a buyer client over an error on a property transaction has taken assignment of its claim against the seller.
Jail for property solicitor who defrauded own firm of £160k
A long-serving property solicitor who defrauded a Hereford law firm out of £160,000 by diverting disbursement payments into her own bank account has been jailed for 30 months.
Court dismisses negligence claim against law firm over causation
A negligence claim against a well-known London law firm over erroneous information it gave to a client’s mortgage lender has been dismissed on the basis of causation.
Solicitor suspended for not disclosing own-interest conflict
A law firm owner has been suspended for not disclosing conflicts of interest to clients, including that his wife was a director of the property development company they were buying from.
Council fines law firm for breaking law in collecting rent for clients
The First-tier Tribunal has upheld an £8,400 fine imposed on a law firm for not belonging to a client money protection scheme while collecting rent for properties owned by clients.
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.
