Introduction: Maintaining up-to-date knowledge and adherence to regulatory changes is crucial for the seamless operation of your practice. In this edition, designed to provide you with useful updates, insights, […]
SRA Fines National Firm Over £100,000 For AML Compliance Failures
1. Introduction: National Law Firm Fined for Failing to Comply with AML Regulations A large national law firm has been fined over £100,000 plus £1,350 in investigation costs by […]
Another Firm Fined for Compliant Risk Assessment and AML Failures
1. Introduction: SRA Fines Firm £3,800 Plus Costs With the regulator considering automatic fines for money laundering regulation failures and their updated approach to issuing financial penalties for proven […]
Legal Ombudsman Warns Firms to Be Clear On Pricing In Revised Guidance
1. Introduction: Legal Ombudsman highlights importance of transparency pricing information. The Legal Ombudsman (LeO) has recently updated its guidance for lawyers, highlighting the importance of transparent communication regarding ongoing […]
Thousands of Firms Still Failing to Fully Comply With Transparency Rules
1. Introduction: Firms Still Failing to Meet Transparency Requirements The transparency regime, initiated by The Solicitors Regulation Authority in 2019, aimed to enhance openness in the legal sector by […]
SRA Contemplates Automatic Fines for Money-Laundering Regulation Failures
1. Introduction The Law Society Gazette recently published a notice suggesting that the SRA might extend automatic fixed penalties to anti-money laundering (AML) regulation breaches. Currently, firms can be […]