Compliance & Regulation
LSB warns regulators to meet deadline on new transparency rules
The Legal Services Board has warned the frontline regulators that it will take action if they do not deliver new measures to improve transparency around lawyers’ services by September.
SRA hands out fines nearing £50,000 for AML failures
The Solicitors Regulation Authority has this week issued fines totalling nearly £50,000 to two law firms and a solicitor over various breaches of anti-money laundering rules.
Immigration solicitor’s complaints about Daily Mail sting rejected
One of the immigration solicitors caught up in a Daily Mail sting last summer has failed in his complaint about it to the Independent Press Standards Organisation.
Lawyer rebuked for not checking ID of walk-in client
A chartered legal executive who failed to check the identity of a walk-in client who said the firm had acted for him in the past has been rebuked by the Solicitors Regulation Authority.
CMA urged to act over lack of progress on lawyer quality indicators
The Competition & Markets Authority has been urged to step in and accelerate the “painfully slow” progress legal regulators are making in developing quality indicators.
CA upholds ruling that solicitor did not condone partner’s £16m fraud
The Court of Appeal has dismissed the latest bid by the insurer of London law firm Jirehouse – whose founder is in jail for fraud – to exclude liability for the multi-million-pound loss suffered by a client.
Solicitor fined £15,000 fine for AML due diligence failures
A partner who failed to conduct proper client due diligence in property transactions that had signs of money laundering has been fined £15,000.
Private client lawyer who pocketed clients’ fees is struck off
A salaried partner who told clients to pay him in cash or with cheques made out to him, which he kept, has been struck off by the Solicitors Disciplinary Tribunal.
BSB to scrap requirement for barristers to have a degree
The BSB is planning to scrap the requirement that Bar students have at least a lower second-class degree, opening the way for those with third-class degrees or no degree at all to become a barrister.
First diversity profile of in-house solicitors puts public sector to fore
The public sector is home to a more diverse group of in-house solicitors than the private sector, Solicitors Regulation Authority data has shown.