The Solicitors Regulation Authority (SRA) has announced significant proposals to change how law firms manage client funds.The proposed reforms include prohibiting the retention of interest by…
The Solicitors Regulation Authority (SRA) fines eight law firms £57,000 for inadequate anti-money laundering (AML) controls, highlighting continued issues in the sector.Key failings included the absence…
The Solicitors Disciplinary Tribunal (SDT) clears two solicitors of misconduct charges related to volume financial mis-selling claims.The allegations involved misleading statements and inadequate client due diligence…
A recent survey highlights strong opposition among law firms to the SRA’s proposal to stop them from holding client money.The Solicitors Regulation Authority (SRA) is considering…
A Southampton law firm fined £20,700 for transparency breaches.David Ebert failed to publish required information on its website.Missing compliance officers were a part of multiple administrative…
The Solicitors Regulation Authority (SRA) questions the ethicality of solicitors retaining client account interest.Some firms reportedly depend on this interest to maintain financial stability.A consultation will…
The Solicitors Regulation Authority (SRA) criticises law firms for treating anti-money laundering (AML) training as a mere ‘tick-box exercise.’Firms using generic AML training packages may not…
The Solicitors Regulation Authority (SRA) has barred two former employees of Axiom Ince from the legal profession pending permission.This decision follows serious financial misconduct and document…
A critical investigation reveals significant deficiencies in the SRA’s oversight of Axiom Ince, highlighting missed opportunities to uncover fraud.The SRA did not identify fraudulent activities and…
A recent study highlights widespread trust and confidence in legal services but indicates a strong demand for enhanced transparency regarding costs.Most of the individuals surveyed expressed…
