Solicitors
New ABS rules will smooth path for group structures and private equity, says SRA
Freeing up the rules on licensing alternative business structures will help the Solicitors Regulation Authority deal with more complex applications, such as those from businesses that form part of a group or have private equity investment, it has told the government.
Tribunal clears two solicitors of unwittingly enabling mortgage fraud
The Solicitors Disciplinary Tribunal has cleared two solicitors of being unwitting parties to a mortgage fraud, saying that once the mortgagor’s solicitor had been sanctioned in 2015, the Solicitors Regulation Authority should not have continued its case against them as the purchaser’s advisers.
Are solicitors obliged to question ethics of clients’ conduct? Leading academic suggests they may be
Solicitors may have a regulatory obligation to question the ethics of what their clients are doing or proposing to do, a leading academic has suggested. Dr Steven Vaughan said the new SRA Competence Statement required solicitors to be alive to ethical issues “which are far wider than their own professional responsibility obligations”.
Law firm caught up in dubious US oil wells sales
A firm of solicitors has been caught up in the activities of two companies that have been wound up by the High Court after it ruled that they showed a “lack of commercial probity” in their sale of interests in American oil wells.
Fine for solicitor who accepted £400,000 in loans from clients
A solicitor who provided two longstanding clients with banking facilities, and also accepted more than £400,000 in loans from them without insisting that they take independent legal advice, has been fined by the Solicitors Disciplinary Tribunal.
Tribunal strikes off solicitor who made false expenses claims
A solicitor who submitted a series of false business expenses to his firm – including three that were actually for a birthday dinner for his wife and friends – has been struck off by the Solicitors Disciplinary Tribunal. He was also found guilty of charging false travel expenses to clients.
‘Regulator swapping’ to be put under the microscope
Research into the growing trend of law firms switching regulator has begun so as to assess any risks for consumers and whether there may be unintended consequences. The Legal Services Board is undertaking the work and will look, among other things, at the extent to which new regulators check and use a lawyer or firm’s previous regulatory history.
Axiom fund claims another victim as solicitor is struck off with millions of pounds missing
A solicitor has been struck off after letting his firm be run by non-lawyers who then took more than £8m in funds supplied by the controversial Axiom Legal Financing Fund. He is the fifth solicitor to be struck off because of involvement with the Axiom fund.
Alcoholic solicitor struck off for client money misuse
A solicitor who used client money for her own benefit while she was suffering from alcoholism has been struck off. The medical evidence meant that the Solicitors Regulation Authority, prosecuting, dropped its allegations of dishonesty against her.
COFA sanctioned after client account was used as banking facility
A practice manager who is his firm’s compliance officer for finance and administration has been rebuked and fined by the Solicitors Regulation Authority for letting his firm’s client account be used as a banking facility among other offences.
Blog
Mazur: when regulators make simple things complicated
What the last six months have shown is that supervision cannot be treated as a background compliance obligation quietly managed somewhere in a firm’s operational processes.
How unstoppable AI is reshaping UK legal practice
At a time when most technology innovation still flows from the US and China, UK lawtech is attracting growing international attention and capital.
Modern vehicles: new injury profiles and new legal challenges
As the number of electric vehicles on UK roads continues to grow year-on-year, it is important to address the risks that come with their increased adoption.
