Solicitors
Solictors sanctioned following Insolvency Service investigations
A retired solicitor has been made subject to a maximum 15-year bankruptcy restriction order for misappropriating funds from his clients’ accounts, overcharging clients and falsifying his records to cover up his actions. Meanwhile, a solicitor from Essex has been disqualified as a director for five years.
SRA charts new course that means few firms will need FCA authorisation for consumer credit work
The Solicitors Regulation Authority is set to continue regulating most consumer credit activities carried out by law firms after new proposals were issued last week. A consultation said solicitors would be able to carry out mainstream consumer credit activities as long as they are central to the legal services they provide.
SDT punishes solicitors caught out by PII changes
Solicitors running two firms caught out by changes to the indemnity insurance rules and the closure of the assigned risks pool in 2012-13 have been fined by the Solicitors Disciplinary Tribunal for failing to wind-down their practices in an orderly manner.
QASA is “only way” to protect the public, Supreme Court rules
The Quality Assurance Scheme for Advocates (QASA) is finally set to go ahead after the Supreme Court ruled that it was “the only way” to protect all members of the public involved in criminal proceedings “at an upper level”. But it has been claimed that the decision will make it harder for similar schemes to be introduced for other areas of law.
Law Society records £33m surplus – but cost of practising set to remain the same
The Law Society recorded a £33m surplus last year, its annual report has shown, while former chief executive Des Hudson received a pay packet of £407,000 in his final year. However, the society has proposed retaining the practising certificate fee at £320.
Referral fees in criminal cases could lead to “arrest chasing”
Removing the ban on referral fees in criminal cases could lead to “arrest chasing” by solicitors, the Bar Council has warned, and result in “as much public opprobrium” as ambulance chasing. However, the Bar Council backed third-party accounts for solicitors.
SDT: insurance application errors “carelessness not misconduct”
Two partners have been cleared by the Solicitors Disciplinary Tribunal of misconduct relating to errors and omissions in their firm’s application for indemnity insurance, and unusually were allowed to maintain their anonymity throughout.
Law Society: “Piecemeal” SRA reforms could create “perverse incentives”
The Law Society has launched a sustained attack on plans by the Solicitors Regulation Authority to introduce third-party accounts, allow referral fees in legal aid cases and remove the requirement on firms to carry out reserved activities.
Lifting referral fee ban will give green light to “least ethical” solicitors
Ending the ban on referral fees in legal aid cases risks approving the practices of some of the solicitors’ profession’s “least ethical and least professional members”, barristers have claimed.
Plant: CBE a recognition of SRA progress
Charles Plant, the former chairman of the Solicitors Regulation Authority, has described the award of a CBE in the Queen’s Birthday Honours List as “recognition” of the work done by the regulator during his tenure. Mr Plant, who is now retired, was cited for services to legal regulation and education.
Blog
Accountability has to live within governance, not with one person
The assumption has long been that a COLP or COFA is personally exposed to the consequences of anti-money laundering breaches.
The SRA’s client money reforms: good intentions, questionable execution
On the face of it, the SRA’s plans to tighten protections around client money sounds sensible. The detail, as ever, tells a more complicated story.
Recruitment, retention and reward in the legal accounts world
Understanding the legal finance market is important – not just for those actively involved in it day-to-day but also for leaders within law firms.
