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1. Introduction It is not unusual for some solicitors to own separate businesses that provide linked professional services to their clients. The regulator has recently updated their guidance explaining the obligations for all SRA regulated firms, their managers, owners and [...]
Introduction Law firms operate in a highly regulated and supervised environment. As a result, setting out the way in which it operates in a series of policies, procedures, and documents is essential for all firms. However, just having a standard [...]
In an announcement today – 12th April 2022 - it has been confirmed by the Solicitors Regulation Authority that the fund protecting retired solicitors from historical claims will continue until at least September 2023 to allow for further consideration of [...]
Financial Sanctions & Russia - Update We have recently had enquiries from a number of firms in respect of the Government’s sanctions on Russian nationals and organisations in light of the conflict in Ukraine. The SRA have recently provided some [...]
The impact of COVID has left many organisations working from home for the foreseeable future. Getting users to be records-compliant is difficult enough at the best of times, but working remotely adds even more challenges with maintaining daily records of [...]
The Law Society has reported the potential monopolising of the legal digital comparison site market if regulators proceed with new moves to encourage solicitors to appear on these comparison sites. With this, it is expected that firms with black and [...]
Working within the legal sector involves having a keen eye for detail, being able to spot a loophole in a contract, remembering a statute or legal precedent, checking that every ‘I’ is dotted and every ‘T’ is crossed. Not [...]
The Law The Money Laundering and Terrorist Financing Regulations 2017 and the amendment in 2022 require certain Trusts (see below) to be registered by 1.9.22 and newly created Trusts to be registered in accordance with the new rules. It is [...]
Millions of cyberattacks will take place across the UK in 2022 and many thousands of businesses will be seriously damaged. They will include law firms. The firms which avoid damage will be those that have taken proactive steps to protect [...]
A recent notice published by the Solicitors Regulation Authority stated that a former manager and partner of a large London law firm has been personally sanctioned for his part in anti-money laundering failings. In total, he was fined £17,500 plus [...]
