Compliance & Regulation
Reynolds corrects official record over calling himself a solicitor
Business secretary Jonathan Reynolds has officially corrected the House of Commons record for describing himself as a solicitor, amid continuing jabs from the Conservatives.
London office of top US firm fined £300k for AML failures
A leading US law firm has been fined £300,000 for failing to have anti-money laundering risk assessments and procedures in place in its London office.
Lawyers worried by over-reliance on SRA discretion post Dentons
Specialist regulatory lawyers have expressed concern that the High Court ruling in the Dentons case places too much reliance on the SRA’s view of the seriousness of rule breaches.
CLC deprecates “apology” by disqualified conveyancer
Disqualified licensed conveyancer Lloyd Davies did not “accurately” reflect the agreed facts of his case in his public statement about it, his regulator said yesterday in an unusual move.
Court: Solicitors’ breaches of AML rules “strict liability offences”
Breaches of AML rules are effectively strict liability offences and the SRA does not need to show severity to prove misconduct, the High Court ruled yesterday.
“Clear evidence” that solicitor apprenticeships aid social mobility
There is now “clear evidence” that solicitor apprenticeships are facilitating social mobility, analysis by the Solicitors Regulation Authority has shown.
SRA’s Philip says retirement plan predated Axiom Ince
The retirement of SRA chief executive Paul Philip has nothing to do with the Axiom Ince scandal, he has emphasised. Meanwhile, the chair of the BSB is stepping down too.
Solicitor cannot base victimisation claim on firm’s report to SRA
A solicitor cannot base a victimisation claim against her law firm at the employment tribunal on it reporting her to the Solicitors Regulation Authority, a judge has ruled.
Firm and two partners fined £50k for offering banking facility
A law firm and two of its partners have been fined nearly £50,000 between them for allowing two wealthy clients to use its client account as a banking facility.
MP: SRA needs to be empowered to crack down on lawfare
There is a “clear consensus” in Parliament that the SRA must “feel empowered” to crack down on instances of ‘lawfare’, an MP said yesterday.
High-profile conveyancer “transferring shares” post-disqualification
Lloyd Davies, the high-profile licensed conveyancer who has been permanently disqualified, is now in the process of transferring his shares in his firm, it has confirmed.
Campaigners call for single supervisor of legal sector’s AML activities
Only a single body policing anti-money laundering supervision across the UK legal sector will deliver “the step change in effectiveness that is needed”, a campaign group has argued.
LSB tells regulators to improve lawyers’ ethical standards
New requirements on legal regulators to strengthen ethical standards from the start of lawyers’ careers have been proposed today.
Barrister who harassed woman at party suspended for three months
A male barrister who harassed a woman at his chambers’ Christmas party both physically and verbally has been suspended from practice for three months.
City solicitors hit out at SRA’s “instinct to overregulate”
The SRA’s plans to reform consumer protection arrangements demonstrate its instinct to “overregulate” the profession, City solicitors have claimed.
