Compliance & Regulation
Firm and two partners fined £50k for offering banking facility
A law firm and two of its partners have been fined nearly £50,000 between them for allowing two wealthy clients to use its client account as a banking facility.
MP: SRA needs to be empowered to crack down on lawfare
There is a “clear consensus” in Parliament that the SRA must “feel empowered” to crack down on instances of ‘lawfare’, an MP said yesterday.
High-profile conveyancer “transferring shares” post-disqualification
Lloyd Davies, the high-profile licensed conveyancer who has been permanently disqualified, is now in the process of transferring his shares in his firm, it has confirmed.
Campaigners call for single supervisor of legal sector’s AML activities
Only a single body policing anti-money laundering supervision across the UK legal sector will deliver “the step change in effectiveness that is needed”, a campaign group has argued.
LSB tells regulators to improve lawyers’ ethical standards
New requirements on legal regulators to strengthen ethical standards from the start of lawyers’ careers have been proposed today.
Barrister who harassed woman at party suspended for three months
A male barrister who harassed a woman at his chambers’ Christmas party both physically and verbally has been suspended from practice for three months.
City solicitors hit out at SRA’s “instinct to overregulate”
The SRA’s plans to reform consumer protection arrangements demonstrate its instinct to “overregulate” the profession, City solicitors have claimed.
High-profile conveyancer disqualified for misleading 300 students
A high-profile licensed conveyancer has been thrown out of the profession for not telling 300 apprentices and students that his training academy had lost its official accreditation.
Fee-earner banned for misleading firm over Law Society accreditation
A fee-earner has been banned for misleading her firm into thinking that her membership of the Law Society’s mental health accreditation scheme had been renewed.
“Disruptive” solicitor ordered to pay SRA costs of £20,000
A solicitor has been ordered to pay the SRA £20,000 in costs for his “unreasonable and indeed vexatious and disruptive conduct” of litigation against it.
Two firms rebuked for residual balances as charity launches campaign
Two law firms that between them retained £425,000 of client money for many years have been rebuked as charity Support Through Court called on solicitors to donate small residual balances.
LSB chair steps down less than halfway through term
The chair of the Legal Services Board, Alan Kershaw, has stood down from the role less than halfway through his term, citing personal considerations.
SRA moves closer to SSB Law prosecutions
The Solicitors Regulation Authority has completed its investigation into the collapse of SSB Law and issued disciplinary notices to “a number of individuals”.
Paul Philip to retire as SRA chief executive
Paul Philip is to retire from the Solicitors Regulation Authority towards the end of 2025 after nearly 12 years as chief executive, it announced this morning.
“Time to act” on scrapping client accounts, consumer panel says
Now is the time for the SRA to take “decisive steps” towards scrapping solicitors’ client accounts, the Legal Services Consumer Panel has said.
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.
