Compliance & Regulation
Tribunal slaps Clyde & Co with £500k fine for AML failures
Leading City firm Clyde & Co has been fined £500,000 by the Solicitors Disciplinary Tribunal – equalling the highest amount ever – for money laundering offences.
SRA issues first fixed penalty fine for compliance officer rule breach
A law firm in the North-East has become the first to receive a fixed penalty fine for not updating the Solicitors Regulation Authority on information about a compliance officer.
CILEX: Members, consumers and employers back SRA switch
CILEX has reported strong support from members, employers and consumers for its plans to change regulator to the SRA and introduce new professional titles.
Legal Ombudsman urged to publish findings in full
The Legal Services Consumer Panel has put pressure on the Legal Ombudsman to move more quickly towards publishing its decisions in full.
Chambers “should not have to merge for regulatory reasons”
The new chair of the Bar Council has pushed back at the idea floated by the Bar Standards Board that chambers could merge to make regulatory compliance easier.
Solicitor who breached undertakings agrees to leave profession
A solicitor whose failure to comply with multiple undertaking he gave caused significant losses for investors in two property developments, has agreed to leave the profession.
SRA: No plans to act yet on Post Office scandal lawyers
The Solicitors Regulation Authority could take action against solicitors over misconduct in the Post Office scandal before the public inquiry ends but has yet to see evidence that requires it.
SRA forced to hire more staff to handle Axiom Ince claims
The Solicitors Regulation Authority is having to employ seven extra staff at a cost to the profession of £310,000 to help it cope with the number of compensation claims from clients of Axiom Ince.
£10k fine for employed solicitor who held herself out as sole practitioner
A solicitor at a City law firm who held herself out as a sole practitioner while helping a person bring county court proceedings has been fined £10,000.
Were lawyers complicit in Post Office’s corporate governance failures?
A solicitor who acted for three wrongly convicted sub-postmasters has questioned whether lawyers advising the Post Office’s board were more motivated by continuing the retainers.
Accounts manager tried to remove partners from roll of solicitors
An accounts manager who tried to remove her firm’s partners from the roll of solicitors has been barred from working for law firms, as has a bookkeeper who was double-paid for nine months.
Court to consider legality of refusing to act for non-sanctioned Russian
A judge is to consider whether a firm of accountants discriminated against a company owned by a non-sanctioned Russian by refusing to take it on as a client.
Law Society would support Legal Ombudsman outsourcing
The Law Society has said it would be “inclined to support” any bid by the Legal Ombudsman to secure legislation which would allow it to outsource complaints handling.
Solicitor fined after acting for friends and family without insurance
A solicitor who was unaware that the rules had changed so that she could not handle friends and family’s conveyancing for free without insurance has been fined.
High Court rejects barrister’s bid for Lib Dems disclosure order
The High Court has rejected a barrister’s bid for an order requiring the Liberal Democrats to disclose the identities of people who made anonymous complaints about her.
Blog
Why law firms are getting AI supervision wrong
The profession’s response to AI supervision failures misunderstands the nature of LLM output – there needs to be for a shift in the culture.
Beyond the PII premium – rethinking risk
Professional indemnity insurance renewal is often treated as an annual pricing exercise. But it is also a chance to show how effectively you identify, manage and mitigate risk.
The AI governance gap in law firms and why it matters now
A third of law firms are already using AI tools with no formal policy in place to govern how AI gets used, what data goes into it, or who’s accountable when something goes wrong.
Reports
Associates
