Significant rise in number of solicitors struck off, as tribunal faces ever more complex cases
The Solicitors Disciplinary Tribunal struck off 35% more solicitors in the last calendar year than the one before, its annual report has revealed. Meanwhile, the legal costs awarded to the Solicitors Regulation Authority for bringing the prosecutions rocketed from £1.7m to over £3m – an increase of 76%.
Paralegal who lied on CV barred from solicitors’ profession
A paralegal who secured a job on the back of a false CV and later faked letters to hide the fact that he had missed a court date has effectively been thrown out of the profession. Among other things, he claimed to have attended Yale University, whereas in fact he had just submitted a research paper for the law review, which was not published.
Outstanding value? LSB persuades legal regulators to publish annual costs statements
The Legal Services Board has persuaded all the legal regulators to produce straightforward annual statements on their costs so that practitioners can clearly see how their money is being spent, it has emerged. As a result, the LSB has shut down its cost of regulation project and publish its own statement of costs.
Cost of Legal Ombudsman to rise for first time as unpaid case fees cause problems
The Legal Ombudsman’s budget is set to rise for the first time since its creation – by £1m – with claims management companies not paying the case fees they have been charged the key cause and more expected to follow as they continue to go out of business.
Let lawyers control supply of electronic legal documents, report says
Lawyers should control the supply of “so-called standard electronic documents”, such as confidentiality deeds or contracts, a report has suggested. The report also highlighted the ethical and regulatory issues raised by artificial intelligence.
“Superficial” partners lack knowledge of clients’ businesses, report finds
Many senior partners lack all but a “basic knowledge” of their clients’ businesses, leading to “superficial” interactions and a “disconnect between law firms and their clients”, a report has found. As a result, in-house counsel are now looking at alternative providers.
Solicitor who transferred £1.3m to Belize disciplined for money laundering breaches
A solicitor who transferred nearly £1.3m to an offshore bank account in Belize has been suspended for a year for breaches of the money laundering regulations and accounts rules. A disciplinary tribunal said she have have unwittingly facilitated the movement of monies during the course of a suspected fraud.
Innovative corporate firm eyes external investment as it looks to offer non-legal services
An innovative Cardiff law firm has secured an alternative business structure (ABS) licence as it looks to private equity to expand what it offers the mergers and acquisitions market beyond legal services, with its corporate financier chairman also becoming a shareholder.
Groundbreaking conveyancing ABS strengthens grip on market with acquisition
The country’s biggest conveyancing business, My Home Move, has consolidated its position by acquiring Advantage Property Lawyers, the sixth biggest conveyancer and a significant player in the north-east of England in particular. My Home Move will soon be pass the 100,000 completions a year mark as a result.
Solicitors, trainee and paralegal jailed after landmark convictions for insurance fraud conspiracy
Two solicitors, a trainee and a paralegal are among six men who have today been jailed for a total of 13 and a half years at Liverpool Crown Court for insurance fraud that cost victims £426,000. The first City of London Police Insurance Fraud Enforcement Department prosecution involving solicitors, each was sentenced for conspiracy to defraud by false representation.
