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New draft AML guidance

The AML Legal Supervisors have agreed draft Legal Sector Anti-Money Laundering Guidance taking account of the changes introduced by Money Laundering Regulations 2017 (http://www.legislation.gov.uk/uksi/2017/692/made) which came into force on 26 June 2017. It is marked draft because it is subject to approval by HM Treasury which is expected later this year, and so may be subject to change. Once it has been approved by HM Treasury, the Guidance will be published in its final form.

September 20th, 2017 | Comments Off on New draft AML guidance

Regulators to take price transparency rules slowly as SRA outlines limited pilot

Legal regulators have responded cautiously to the Competition and Markets Authority’s recommendations on price transparency, pledging to pilot regulatory requirements and test their effects on the lawyers and firms they regulate. They promised to implement controversial measures to encourage lawyers to publish prices if possible.

June 30th, 2017 | No Comments »

Mixed response to LSB’s plan for regulatory overhaul, with Falconer calling for focus on unmet legal need instead

Reactions from key legal services industry bodies to the Legal Services Board’s blueprint for radical form of legal regulation have ranged from enthusiastic welcome to anger at its timing, while the politician who introduced the Legal Services Act 2007 said tackling unmet legal need was more of a priority.

September 14th, 2016 | No Comments »

Law Society and CLC clash on switching regulators

The Law Society and Council for Licensed Conveyancers have clashed plans by the Solicitors Regulation Authority to make it easier for law firms to switch regulator. The society warned that clients could be left without proper cover.

July 18th, 2016 | No Comments »

CLC seeks approval for solicitor-style indemnity scheme

The Council of Licensed Conveyancers has announced its intention to apply to the Legal Services Board to approve the introduction of a solicitor-style open market indemnity scheme. The move has triggered warnings that law firms may switch regulator from the Solicitors Regulation Authority to the CLC for the wrong reasons.

May 26th, 2016 | No Comments »

SRA taken to task over enforcement and IT failures

The Legal Services Board has strongly criticised the Solicitors Regulation Authority over failures in its enforcement work and IT systems – and also warned about the risk that the overhaul of the Handbook “may be too much” for firms and the regulator to cope with. However, the LSB said the legal regulators collectively had all made “substantial progress”.

May 11th, 2016 | No Comments »

CLC consults on open market indemnity scheme in bid to attract solicitors

The Council for Licensed Conveyancers (CLC) is planning to introduce solicitor-style indemnity insurance arrangements, in a bid to make it easier for law firms to switch regulator. Embracing an open market scheme instead of a master policy would help “make a reality” of the “theoretical” freedom of law firms to change.

May 6th, 2016 | No Comments »

Government-funded legal apprenticeships set to start next year

Legal apprenticeships funded by the government are on course to start next September, the Solicitors Regulation Authority, Chartered Institute of Legal Executives and the Council for Licensed Conveyancers have confirmed.

September 4th, 2015 | No Comments »

Paraskeva returns to the law as CLC chair

Former Law Society chief executive Dame Janet Paraskeva has been named as the new chair of the Council for Licensed Conveyancers. Dame Janet, a non-lawyer, has been appointed for an initial four-year term.

April 21st, 2015 | No Comments »

Consumer panel attacks CLC over plans to halve compensation grants

The Legal Services Consumer Panel has strongly attacked plans by the Council for Licensed Conveyancers to cut the size of grants from its compensation fund from £1m to £500,000 – a quarter of the amount clients of solicitors can claim.

April 8th, 2015 | No Comments »