Entries by ACLAdmin

SRA updates its AML Risk Outlook

AML Risk Outlook Money laundering Why this risk matters The legal market can be an attractive target for those wishing to launder the proceeds of crime. In some cases, criminals instruct legal professionals to hold or transfer money because of the perceived legitimacy this offers The National Risk Assessment of Money Laundering and Terrorist Financing […]

BSB to amend Standard of Proof for misconduct

Watchdog to lower standard of proof in barrister misconduct hearings Prosecutors of barristers accused of breaching professional rules will no longer have to meet the criminal standard of proof, the watchdog for the profession has announced. The Bar Standards Board said that it would amend the standard of proof applied when barristers face disciplinary proceedings […]

Law Society ruling by ASA for CQS advertising

Subject: ASA ruling on CQS Background This Ruling replaces that published on 14 June 2017. The decision has been reversed, making the complaint upheld. Ad description A web page on the Law Society website www.lawsociety.org.uk, seen in November 2016, describing the Conveyancing Quality Scheme (CQS) accreditation, stated “All Law Society Conveyancing Quality Scheme firms go […]

Solicitor helped himself to money in client account after ‘tidying -up” exercise

A solicitor who helped himself to client money while carrying out what he claimed was a “tidying-up” exercise of historic client account balances has been struck off by the Solicitors Disciplinary Tribunal (SDT). The tribunal decided [1] that Vernon Burke’s actions showed a “lack of moral soundness, a lack of rectitude and no adherence to an ethical […]

Firm fined £80,000 for AML breach by SRA

Clyde & Co hit with biggest joint fine for money laundering breach Three partners at a City of London law firm have been hit with the biggest joint fine ever handed out by the Solicitors Disciplinary Tribunal as part of a £70,000 penalty for breaching money-laundering rules. Clyde & Co, an international law firm that […]

LSB cost Solicitors £19 per year

Solicitors will pay less than £19 a year towards the cost of the Legal Services Board, the oversight regulator said today, unveiling ‘ambitious’ plans for the next 12 months. The 2017/18 business plan plan is the third and final part of a three-year strategy which has concentrated on breaking down regulatory barriers., tackling unmet legal need, as well […]