Tag Results
SRA warns firms of confidentiality risk from law firm M&A
Monday, 26 January 2015The Solicitors Regulation Authority has warned of confidentiality risks from law firm mergers and acquisitions. It also highlighted dangers arising from cloud computing and complex global business structures.
Tags: Solicitors Regulation Authority
Posted in Latest news, Regulation, Solicitors
Third law firm fined for involvement in SDLT avoidance scheme
Friday, 23 January 2015A third law firm has been fined by the Solicitors Regulation Authority for its involvement in a stamp duty avoidance scheme operated by Inventive Tax Strategies.
Tags: conveyancing, HMRC, Solicitors Regulation Authority
Posted in Latest news, Regulation, Solicitors
Rowlands: SRA must focus on “job in hand” and not worry about single regulator
Friday, 23 January 2015Enid Rowlands, new chair of the Solicitors Regulation Authority, has said the regulator should “focus on the job in hand” and not waste time worrying about whether there should be a single regulator.
Tags: diversity, Legal Services Board, Single regulator, Solicitors Regulation Authority
Posted in Legal Services Act, Regulation, Solicitors
FCA agrees to another extension on consumer credit regulation
Thursday, 22 January 2015The regulation of solicitors’ consumer credit work by the Financial Conduct Authority has been postponed again. It has agreed to an SRA request extent the current transitional arrangements until 31 October.
Tags: Solicitors Regulation Authority
Posted in Latest news, Solicitors
SRA resorts to outsourcing after 49% increase in tribunal referrals
Wednesday, 21 January 2015The Solicitors Regulation Authority has been forced to rely on outsourcing and recruit more staff after a 49% surge in referrals to the Solicitors Disciplinary Tribunal. It has also identified a series of emerging risks, including public sector cuts.
Tags: sole practitioners, Solicitors Disciplinary Tribunal, Solicitors Regulation Authority
Posted in Latest news, Regulation, Solicitors
Big fall in firms heading for closure after failing to find indemnity insurance
Tuesday, 20 January 2015A total of 49 firms are heading for closure after failing to secure indemnity insurance, the Solicitors Regulation Authority has said. This compares with 138 which were forced to shut for the same reason last year.
Tags: cessation period, Indemnity insurance, Solicitors Regulation Authority
Posted in Indemnity insurance, Latest news, Regulation, Solicitors
Compliance: what to expect in 2015
Friday, 16 January 2015What’s your favourite time of year? Mine is April, but not this year. Other are conspiring against me—the Solicitors Regulation Authority, the government, the Legal Services Board, the Legal Ombudsman, HM Treasury and even the European Commission.
Tags: anti-money laundering, continuing professional development, CPD, Legal Ombudsman, Solicitors Regulation Authority
Posted in Blog
SRA issues warning over letting clients use law firms as banks
Friday, 16 January 2015There are increasing reports of law firms allowing their client account to be used by others as a bank account in clear breach of the rules, the Solicitors Regulation Authority (SRA) warned yesterday.
Tags: money laundering, Solicitors Regulation Authority
Posted in Finance, Latest news, Solicitors
Law Society to SRA: do not abandon training contract
Friday, 16 January 2015The Law Society has called on the Solicitors Regulation Authority (SRA) not to abandon the training contract, which it is said was viewed by other jurisdictions as the “gold standard”.
Tags: competence statement, Law Society, Solicitors Regulation Authority
Posted in Competence, Latest news, Practice Management, Regulation, Solicitors
SRA pledges “urgent” resolution to inquiry into al-Sweady law firms
Wednesday, 14 January 2015The Solicitors Regulation Authority is looking to “urgently” conclude its investigation into the activities of the two law firms – Public Interest Lawyers and Leigh Day & Co – whose behaviour was heavily criticised by defence secretary Michael Fallon in the wake of the findings of the al-Sweady inquiry.
Tags: Solicitors Regulation Authority
Posted in Latest news, Solicitors