Compliance & Regulation
SRA fails in appeal over solicitor cleared of AML breaches
The High Court has upheld a ruling by the SDT that a solicitor’s errors in conducting due diligence for anti-money laundering purposes did not amount to professional misconduct.
Scottish solicitors to vote on ditching support for ABSs
Solicitors in Scotland will tomorrow vote on whether to oppose government plans to push ahead with alternative business structures.
Conveyancer backdated deed he had forgotten to draft
A vastly experienced conveyancer who backdated a deed of easement he had forgotten to prepare as part of a transaction has been barred from working in the profession.
Let us lead on equality, Bar Council chair tells BSB
The chairman of the Bar Council has urged the Bar Standards Board to let it lead work on improving equality, diversity and inclusion in the profession.
SRA’s client money warning: partners need to replace money at once
Law firm partners have been told that they must dip into their own pockets to replace any shortages on client accounts immediately upon discovery.
Exclusive: SSB clients “uncertain” about insurer’s assignment offer
Former clients of the collapsed SSB Group are “confused and uncertain” about an insurer’s offer to stop pursuing them for costs if they assign their claims against the law firm.
Dentons’ breach of AML rules was “inadvertent”
A breach of the anti-money laundering rules by Dentons, the world’s largest law firm, was “inadvertent” and did not amount to professional misconduct, the Solicitors Disciplinary Tribunal has ruled.
Employee diverted client’s stamp duty refund to herself
A law firm employee who diverted a client’s stamp duty refund to herself – via an unwitting friend’s bank account – has been barred from the profession.
SRA lays out scale of Post Office investigations
The Solicitors Regulation Authority revealed yesterday that it has more than 20 live investigations into solicitors and law firms involved in the Post Office scandal.
Ban for office manager who used client money to prop up firm
The SRA has imposed a control order on a law firm’s office manager who took money from client account to pay wages and “prop” up the practice.
Law firms “could switch regulator” to evade financial mis-selling fee cap
Law firms have been told that moves to switch regulators to avoid fee caps being introduced for handling financial services mis-selling claims will be closely monitored.
Employment can offer barristers more ethical protection
Being employed by companies or law firms can give barristers more protection when faced with ethical challenges than those in private practice, it has been suggested.
SRA issues M&A warning to law firm buyers and sellers
Solicitors have been warned by their regulator about undertaking adequate due diligence on mergers and acquisitions and putting client interests first when striking the deal.
Law firm fined for allowing COFA to steal £157,000
A law firm whose compliance officer for finance and administration stole £157,000 has been fined for not having proper systems governing payments from client account.
Solicitor rebuked for leaving client unrepresented at hearing
A solicitor who withdrew from a Family Court hearing over a fee dispute so late that he left his client no chance to find a replacement has been rebuked by the SRA.
Blog
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.
From ‘year zero’ to £6.5m – how a law firm found its second life
In 2018, I hit what I call ‘year zero’. On paper, Olliers Solicitors was a top-tier criminal defence firm but beneath the surface, I could see we were at a crossroads.
