Compliance & Regulation
Axiom Ince now set to cost solicitors £41m
The collapse of Axiom Ince is now set to cost the solicitors’ profession £41m in payouts from the SRA Compensation Fund, it has emerged.
Number of fines issued by SRA more than doubles in a year
The Solicitors Regulation Authority issued 173 fines to law firms and individuals in its last financial year, more than twice the number of the previous year.
SRA gives green light to sale of insurer’s law firm
The Solicitors Regulation Authority has approved the sale of DLG Legal Services – the alternative business structure owned by insurer Direct Line – to Aviva.
Law firm prices have risen ahead of inflation since 2020
Prices for basic legal services have increased by more than inflation in recent years, while law firms offering fixed costs are significantly cheaper than those giving estimates.
Reynolds avoids SRA action – unless he calls himself a solicitor again
The SRA has decided not to take action over business secretary Jonathan Reynolds calling himself a solicitor – but warned him of possible prosecution should he do it again.
Solicitor fails in challenge to judge’s finding of “indefensible” conduct
The Court of Appeal has rejected a solicitor’s challenge to judicial criticism of his “indefensible” conduct, motivated by money, in using leaked privileged material to help win an arbitration.
Unethical behaviour by barristers “more limited and nuanced”
The evidence of unethical behaviour by barristers is “more limited and nuanced” than that relating to other lawyers, the Bar Council has said.
Law firm fined £64k for AML breaches lasting six years
A Kent law firm has been fined nearly £64,000 for basic anti-money laundering control breaches over many years, one of the larger penalties handed out for the failures.
Law Society “pauses” work on material information form
The Law Society has “paused” work on a material information form for conveyancers, after National Trading Standards withdrew it guidance on the issue last month.
Two-year suspension for partner who sexually harassed colleague
A partner who told a junior colleague that he wanted to “dominate you sexually” has been suspended for two years – but his identity kept secret.
Consumer panel urges complaints data publication in shake-up
The Legal Services Consumer Panel has expressed its frustration and “deep concern” over the “persistent failure” of lawyers to effectively deal with complaints from consumers.
Law firm ignored red flags over client’s “inconsistent” ID
A law firm that submitted identity evidence to the HM Land Registry which clearly did not stack up has been rebuked by the Solicitors Regulation Authority.
Associate avoids strike-off after dishonestly deleting emails
An associate who deleted an email chain as part of a “deliberate and dishonest attempt on her part to shape the narrative” following a client complaint has avoided being struck off.
Suspension for solicitor who acted on both sides of case
A solicitor whose firm acted for both sides in litigation over a debt, despite him being told of the obvious conflict, has been suspended for six months.
Harman tells judges: You have a “clear” bullying problem
Judges have failed to acknowledge the “clear” problem of bullying and harassment among some on the bench, Baroness Harriet Harman told the Bar Council conference on Saturday.
Blog
Strong AML controls are meaningless with incomplete data
One expectation as the FCA takes control of anti-money laundering oversight is a move towards more supervision rather than simply writing new rules.
Navigating the legal AI productivity-profitability paradox
Firms are achieving efficiencies through AI, especially in the practice of law. Yet many are struggling to see that reflected in their financial outcomes
Regulation, growth and access to justice: why legal services need a reset
Well-intentioned consumer protections embedded in the regulation of legal services increasingly act as barriers to innovation, competition and access to justice.
