Solicitors

The Solicitors Disciplinary Tribunal has slammed a prosecution by the Solicitors Regulation Authority in the strongest terms, saying it was “appalled and dismayed” that the regulator had asked it to “rubber stamp” a deal which saw charges of dishonesty dropped at the last minute after the solicitor accused made certain admissions.

The Council for Licensed Conveyancers (CLC) is planning to introduce solicitor-style indemnity insurance arrangements, in a bid to make it easier for law firms to switch regulator. Embracing an open market scheme instead of a master policy would help “make a reality” of the “theoretical” freedom of law firms to change.

A solicitor convicted of failing to provide police with a breath test has been fined £2,500 by the Solicitors Disciplinary Tribunal. Arguing that there was no case to answer, Olufemi Olujinmi said regulation should have a “human face” and the incident should be treated as a “moment of madness”.

Two solicitors accused of misusing £573,000 lent to their law firm by the controversial Axiom Legal Financing Fund have been cleared by the Solicitors Disciplinary Tribunal – in part because they relied on assurances given to them by Richard Barnett, who was subsequently struck off himself for misusing Axiom money.

More than one in five law firms have been targeted by scammers in the past year, Law Society research has revealed. Money was successfully stolen from client account in 8% of these cases. However the society’s annual indemnity survey found that average premiums paid by firms with up to 25 partners were down by 8%.

Law firms need to guard against the type of cybercrime called ‘CEO fraud’, according to the Solicitors Regulation Authority. The fraud involves spoof e-mails apparently sent in the name of a senior manager to accounts staff authorising urgent cash transfers.

Dr Alan Blacker – the solicitor who has found himself at the centre of constant attention since a judge in 2014 described him as dressing “like something out of Harry Potter” – has failed in his bid to challenge the Law Society’s freedom of information code and stop it releasing information about him.

Two solicitors originally fined £15,000 by the Solicitors Disciplinary Tribunal for their involvement in operating tax avoidance schemes have been suspended for three years at a new hearing – although the Solicitors Regulation Authority had been pushing for strike-offs.

A solicitor has avoided an appearance before the Solicitors Disciplinary Tribunal after accepting a rebuke for failing to report his firm’s “serious financial difficulties”. The firm owed both the taxman and its bank hundreds of thousands of pounds.

The government has pledged radical reform of the suspicious activity reports regime and its replacement with an intelligence-led, risk-based focus. The proposals include removal of the existing consent regime, and with it the scrapping of the existing statutory money laundering defence.