Articles
Cybersecurity and Confidentiality During LockdownMay 19, 2020With many lawyers currently working from home, and with many firms reviewing whether they can implement more widespread remote working – even after lockdown comes to an end and we can return to “normality” – the issue of cybersecurity has inevitably yet again reared its ugly head. Cybercriminals and fraudsters are treating lockdown as an opportunity to exploit vulnerabilities and weaknesses that have arisen from the need to move outside the safer confines of the office environment.Read More
Law Firm Compliance Concerns During Coronavirus LockdownApril 21, 2020Most firms are experiencing unprecedented challenges in maintaining their services to clients whilst they are unable to meet with colleagues and access the support facilities of the office. This has not, however, removed the need to remain compliant with the various regulations to which solicitors are subject. In this article we look at a number of the areas in which solicitors need to take care.Read More
CDD with Clients and Law Firms in Self Isolation LockdownMarch 20, 2020What should solicitors do about gathering CDD when their office is closed or the client claims to be self-isolating in accordance with Government guidelines. The firm’s policy may require sight of original documents or a certified copy from someone in the regulated sector. What if this is impossible to obtain? Do the instructions have to be declined? Here we look at an alternative way of managing this.Read More
COVID-19 and SolicitorsMarch 17, 2020As the impact of COVID-19 starts to really take effect, there is clearly a high chance that solicitors’ firms all over the country will be affected – either directly as a result of staff absences or indirectly as a result of others with whom they have dealings being affected. As with all risks, firms must take steps to ensure that the impact upon clients and potential clients of the firm is as low as possible.Read More
BOOMs and the New Need for DBS ChecksMarch 15, 2020All firms that carry out services that are subject to the Money Laundering Regulations 2017 must ensure that new beneficial owners, officers and managers (BOOMs) provide the SRA with proof that they do not have any criminal convictions that would prevent them taking up one or more of these roles.Read More
Protecting Users of Legal Services – the Compensation FundMarch 3, 2020In a recently published consultation, the Solicitors Regulation Authority has put forward proposals to restrict eligibility to the Compensation Fund and, thereby, reduce the financial burden on the profession.Read More
Financial Crime ConcernsFebruary 21, 2020Issues relating to financial crime continue to be high on the regulatory agenda, and in this article we look again at the responsibilities on law firms to avoid any unwitting involvement in all forms of financial crime – not just money laundering. Read More
Flooding and environmental issuesFebruary 18, 2020The recent spate of storms as increased everyone's awareness of the danger that flooding can present to properties throughout Britain. It is topical, therefore, that the Law Society have produced two environmentally focused practice notes - one dealing with Flood Risk and the other with Contaminated Land.Read More
Revised Money Laundering Regulations now in ForceJanuary 13, 2020The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 took effect on Friday 10th January. Although the new provisions will have more impact on sectors other than law firms, especially the banks and those concerns that have dealings with crypto-currencies, nevertheless there are changes of which law firms need to be aware including the increased importance of risk management and in relation to enhanced due diligence.Read More
Advertising your servicesJanuary 8, 2020Paragraph 8.9 of the SRA Code of Conduct for Solicitors, RELs and RFLs has changed the way in which firms can target advertising to potential clients. This article looks at what those changes are and at how there is still a degree of ambiguity as to what is and is not permitted.Read More