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When, and when not, to disclose
When, and when not, to discloseNovember 28, 2018A recent case provides a useful reminder of the importance of safeguarding confidential information unless, in accordance with Outcome 4.1 in the Code of Conduct, the client consents to disclosure or there is a clear legal duty to reveal the information.Read More
SRA Price Transparency Rules
SRA Price Transparency RulesOctober 30, 2018Seen as an unwelcome burden upon firms already swamped by regulation, and due to take effect in December, the SRA has, with only two months to go, finally published its guidance on the new price transparency rules. This article provides a brief overview of what the SRA Transparency Rules require firms to do and what the SRA will expect to see on firms’ websites in order for them to be compliant.Read More
New Financial Services Rules and the SRA Handbook
New Financial Services Rules and the SRA HandbookOctober 25, 2018The SRA issued a new version of its Handbook on the 1st October to address the changes that it had to make as a result of the EU Insurance Distribution Directive which also took effect as of that date. This article looks at the new requirements and at the changes that will need to be made as a result of the new rules.Read More
Sanction Obligations and the AML Regime
Sanction Obligations and the AML RegimeSeptember 27, 2018In this article we look at the provisions relating to asset freezing targets, obligations in relation to sanctions control and at the specific practical steps your firm needs to consider in order to ensure that it remains compliant in this regard. Read More
SRA Waivers: Innovation or Jumping the Gun?
SRA Waivers: Innovation or Jumping the Gun?September 16, 2018Much has been written recently about the SRA granting waivers to firms ahead of changes to the rules - but is it important? Here Jayne Willetts, Director of Infolegal, argues that it is on two levels. First, as a regulator, should the SRA be permitted to ignore its own rules and secondly, does this more tolerant approach foreshadowing changes due to come into force early next year mean that there are more opportunities for firms and individual solicitors to develop new business models?Read More
Lexcel 6.1 Takes Effect
Lexcel 6.1 Takes EffectAugust 19, 2018The Law Society has now unveiled its latest version of its flagship Lexcel standard. Although only an interim updating version of the standard, rather than the more radical overhaul of the standard for which many had hoped, Lexcel 6.1 is currently optional at new and continuing assessments, and will be mandatory from November 2018.Read More
SRA Reforms – Towards the New Handbook
SRA Reforms – Towards the New HandbookJuly 20, 2018This article looks at three issues that arise from the SRA’s programme of de-regulation - indemnity insurance, waivers and costs information. Whilst they may not seem significant, their impact could not be greater for most firms when the new Handbook, currently anticipated to be in force next April, comes into force.Read More
Property Fraud Cases –  Dreamvar
Property Fraud Cases – DreamvarJune 14, 2018We feature this month the familiar topic of who should bear the liability for property fraud when a vendor firm has been induced to sell a property by a client who turns out to be an imposter. The problem is of course that the purchaser's representatives will have forwarded the completion monies in good faith to the supposed vendor's representatives, but they will then have been transferred to the fraudster and are highly unlikely ever to be recovered.Read More
Looking at the SRA Reforms Ahead
Looking at the SRA Reforms AheadMay 17, 2018It now seems a long time since the SRA issued a series of consultations in 2016 and 2017 on the new “future proofed” Handbook. The current plan is to bring the new Handbook into effect in April 2019 - although there have been suggestions that further delays might arise.Read More
Making Staff Data-Security Aware
Making Staff Data-Security AwareMarch 16, 2018Data security is very much in the news at present - if only because of the focus that has been brought to bear upon it by the General Data Protection Regulation. Whilst the advice from the cybersecurity sector is to put in place firewalls and software solutions to prevent attacks from taking place, often it is the people in a business that are the weakest link.Read More