Regulation
Solicitor who is not an advocate sets up one of first BSB entities
A firm set up by Mark Johnson, a solicitor and former partner at Geldards, is among the first dozen entities to be named today as regulated by the Bar Standards Board. He did it because of access to Bar Mutual indemnity insurance and the Bar’s “simpler and more transparent” rules.
Second time lucky for top accountants after “hell” of dealing with SRA over ABS bid
Sir Michael Snyder, senior partner of top 20 accountants Kingston Smith, has welcomed a change of approach to multi-disciplinary practices at the Solicitors Regulation Authority after describing the “sheer hell” of the firm’s first attempt to become an alternative business structure.
Court of Appeal warns solicitors over standards of ‘commoditised’ services
Economic pressures forcing solicitors to ‘commoditise’ their advice “throw into sharp focus the need for standard form letters of advice to be clear in their exposition”, the Court of Appeal warned yesterday.
Hopper roasts SRA over its tendency to assume the worst in solicitors
The leading specialist solicitor in regulation matters yesterday urged the Solicitors Regulation Authority not to approach law firms with the worst possible assumptions and warned it was driving a wedge between the regulator and the profession.
Single-person ‘firms’ dominate first tranche of barrister entities
All but one of the entities authorised by the Bar Standards Board since the beginning of this month consist of a single barrister, with the other made up of two barristers, it has emerged.
Doubts over SRA plan to offer ‘client account alternative’
Plans to offer solicitors the option of a “third-party managed accounts” instead of the traditional client account have divided opinions, with some criticising a lack of detail and questioning whether the move would reduce fraud.
Another firm falls foul of ‘social engineering’ telephone scam
The Solicitors Regulation Authority has urged solicitors to be extra vigilant after a north-east conveyancing firm became the latest victim of telephone bank scammers. The firm lost a significant amount from its account.
Solicitor fined £305,000 by SDT was motivated by “desire to help”
Nigel Harvie, the solicitor fined a record £305,000 by the Solicitors Disciplinary Tribunal (SDT) last month, argued that he was motivated by a “desire to help”, it has emerged.
ICAEW licenses 48 ABSs in first six months as probate regulator
The Institute of Chartered Accountants in England and Wales (ICAEW) has licensed 48 alternative business structures to carry out probate work in its first six months as regulator, it has emerged.
Paraskeva returns to the law as CLC chair
Former Law Society chief executive Dame Janet Paraskeva has been named as the new chair of the Council for Licensed Conveyancers. Dame Janet, a non-lawyer, has been appointed for an initial four-year term.
Blog
Amplifying reach through employee-driven thought leadership
Nine in 10 executives believe thought leadership is critical to building authority, yet only a quarter feel they have implemented a robust strategy.
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.
