Improving the Effectiveness of AML Regulation
Improving the Effectiveness of AML RegulationMarch 13, 2024HM Treasury publishes consultation on improving the effectiveness of the MLR 2017, which place requirements onto a range of businesses to identify and prevent money laundering and terrorist financing.Read More
Building Safety Act Guide
Building Safety Act GuideFebruary 15, 2024Law Society publishes guide entitled "Building Safety Act 2022: a guide for conveyancers" designed to assist those solicitors dealing with flat sales and purchases in understanding the implications for them of the complexity of the Building Safety Act 2022.Read More
The Lower Risk of Domestic PEPs
The Lower Risk of Domestic PEPsJanuary 24, 2024An amendment to the money laundering regulations making changes to the treatment of politically exposed persons (PEPs) comes into force meaning that firms may need to amend their policies and procedures.Read More
SRA considers risks from ArtificiaI Intelligence
SRA considers risks from ArtificiaI IntelligenceNovember 21, 2023A new report from the SRA looks at the opportunities – and risks – that artificial intelligence (AI) represents to law firms and at how AI is impacting the legal services sector.  It outlines current and potential future developments, and highlights some of the issues that firms may need to think about in terms of how they might be affected.Read More
First fixed penalty fines issued by SRA
First fixed penalty fines issued by SRANovember 16, 2023SRA publishes details of the first three fixed financial penalty regime fines of £750 against three firms for not complying with the Transparency RulesRead More
Transparency – could we do better?
Transparency – could we do better?October 25, 2023In the same week that the Solicitors Regulation Authority (SRA) hails the positive effect for consumers from the introduction of the Transparency Rules, the Law Society's Gazette has carried an article stating that only 42% of all solicitors firms are complying with those rules.  The source for both is the same SRA sponsored report from Economic Insight.Read More
What drives PII premiums research
What drives PII premiums researchSeptember 19, 2023The Legal Services Board and Solicitors Regulation Authority publish joint research looking into the cost of professional indemnity insurance (PII) for law firms, and what factors drive differences in premium levels.Read More
LSB consults on measures to improve complaints procedures
LSB consults on measures to improve complaints proceduresSeptember 9, 2023LSB consults on proposals to ensure that people who use legal services have access to fair and effective complaint procedures and that lessons learned from complaints will be used to strengthen consumer protection and improve the quality and standards of legal services.Read More
Consultation on regulating CILEX members by SRA
Consultation on regulating CILEX members by SRASeptember 3, 2023SRA publishes a consultation on potential changes to its regulatory arrangements to enable it to be the regulator for authorised members of the Chartered Institute of Legal Executives (CILEX). This follows a CILEX consultation launched earlier this month on proposals to re-delegate the regulation of its members.Read More
LSB to Review Regulators’ Powers
LSB to Review Regulators’ PowersAugust 9, 2023Plans have been announced by the Legal Services Board (LSB) to carry out a review of the enforcement and investigative tools that are available to the legal services regulators such as the Solicitors Regulation Authority (SRA). In the light of the LSB’s long-held view that existing penalties may be insufficient to deter wilful and serious […]Read More