Solicitors
7,000 firms to face AML check over compliance concerns
The Solicitors Regulation Authority is to check 7,000 law firms’ compliance with anti-money laundering regulations after an initial sweep found that too many were not complying.
In-house lawyers’ ethics: “Bright spots amid the gloom”
The largest study of the ethics of in-house lawyers ever undertaken has shown a “gloomy picture” of lawyers wedded first to the commercial objectives of the companies they work for.
Serious misconduct “does not mean automatic strike-off”
A finding of serious misconduct against a solicitor does not require striking off or an immediate suspension from practice, the High Court has ruled.
Dozens of law firms enabling corruption, report finds
Dozens of UK law firms are providing corrupt individuals with services that enable them to “move, hide and defend their ill-gotten gains with impunity”, Transparency International has claimed.
Boss of bogus law firm disqualified as director
The head of a bogus solicitors’ firm has received a 10-year director’s disqualification for running the business with a total lack of integrity.
Lawyer protestors advised to do “risk analysis”
Lawyers keen to protest in the streets with Extinction Rebellion should carry out their own “risk analysis” before taking part, a regulatory specialist has said.
Solicitor “turned blind eye” to pension scam
A solicitor who “turned a blind eye” to the “clear and obvious hallmarks of fraud” in an early release pension scam – as he was looking to replace a lost income stream – has been struck off.
Jail for fraudster who was both accident victim and lawyer
A former government lawyer who used multiple identities in order to play the victim of a motor accident and then legally represent the other driver has been jailed for eight months for contempt of court.
High Court upgrades solicitor’s “lenient” fine to strike-off
The Solicitors Disciplinary Tribunal was too lenient in only fining a solicitor who had clients pay money into his personal bank account, High Court has ruled.
Legal Services Board eyes its own transparency push
The Legal Services Board could steal a march on the Solicitors Regulation Authority by holding at least one of its board meetings in public, it has emerged.
Solicitor used account as bank facility “to save client”
A solicitor acting as a company’s in-house lawyer who said he had to use his client account to make various payments while its bank account was frozen has been sanctioned by the regulator.
LSB could start reviewing regulators’ disciplinary files
The Legal Services Board could start reviewing regulators’ case files to increase its oversight of the quality of their disciplinary decisions in the wake of the Leigh Day case, it has emerged.
Partners asked clients to “absolve” them of any liability
Two partners who asked clients to sign a declaration in their retainer letters stating that they absolved their law firm “from any liability whatsoever” – including professional negligence – have been fined.
Survey: Law firms benefit from efforts to help disabled
Solicitors’ firms that adjust the way they present information to disabled people – and make explicit how they can accommodate their needs – will see the business benefits, a major study has found.
Solicitor struck off for property sting on client
A sole practitioner has been struck off for a sting in which a client’s money was used by the solicitor’s business partner to buy a property for a much lower price which was then sold to the client at a profit.
Blog
Is it time to change how law firms view compliance?
Although COFAs often hold senior positions and play an essential role in a firm’s financial and regulatory integrity, the perception of the compliance function itself is still evolving.
From templates to culture change: Lessons from the SRA on source of funds
The SRA’s new thematic review into source of funds and wealth reveals both progress and persistent blind spots, with source-of-funds checks too often thought of as a procedural hurdle.
Change in regulator shouldn’t make AML less of a priority
While SRA fines for AML have been climbing, many in the profession aren’t confident they will get any relief from the FCA, a body used to dealing with a highly regulated industry.
