Solicitors
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.
Solicitors set for client account alternative this year
Solicitors will soon be able to ditch client accounts and instead use “third-party managed accounts”, their regulator has revealed. THe SRA said the use of such accounts may offer a lower-cost alternative that continues to provide appropriate protection.
SRA pokes hornets’ nest as it asks whether to drop referral fee ban in legal aid cases
The Solicitors Regulation Authority yesterday started an “open” debate about allowing solicitors to pay referral fees for legal aid and criminal work, saying the present ban acts as a barrier to consumer choice. The move is likely to be met with anger by the Bar Council.
Unnecessary ABS approval rules to be scrapped in latest regulation bonfire
The rule which requires the Solicitors Regulation Authority to approve the individuals who own companies that in turn own alternative business structures is set to be scrapped. The requirement for firms to keep a record of non-material breaches of the SRA Handbook may also go.
Almost half of law firms say PII brokers failed to disclose commissions
Almost a half of law firms using insurance brokers to secure their indemnity cover in last year’s renewal said brokers failed to reveal their commissions, a Law Society survey has revealed.
First solicitor is admitted through ‘equivalent means’ route
Robert Houchill, a senior paralegal at London law firm Bates Wells Braithwaite, has become the first solicitor to qualify through the ‘equivalent means’ route. He said the new route would give law graduates more flexibility in funding the legal practice course.
SRA warns firms against misleading marketing as inducements ban kicks in
The Solicitors Regulation Authority has warned law firms against misleading publicity as the government’s ban on the use of inducements by personal injury solicitors came into force yesterday.
Over 200 firms of all sizes opt in to ‘hours-free’ continuing competence, SRA says
The Solicitors Regulation Authority has said that over 200 law firms of all sizes have opted into its new ‘continuing competence’ regime. From 1 April firms have been able to leave behind the old hours-based continuing professional development system.
Huge rise in number of lawyers disciplined for money laundering, Treasury reports
There has been a massive increase in the number of lawyers disciplined by their professional bodies for breaking the rules on money laundering, a Treasury report has found.
Regulation round-up: the first US law firm ABS that wasn’t – thanks to SRA error
Jenner & Block has not become the first US law firm licensed as an alternative business structure, it has emerged – rather it was an error by the Solicitors Regulation Authority. Plus, call for QC to be open for all, and new members of LeO’s board.
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.
