Entries by ACLAdmin

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 […]

BSB takes on ABS licensing

England’s legal profession took another leap towards fusion yesterday when the body that regulates barristers began licensing legal services businesses that include solicitor and non-lawyer partners. The move will put the Bar Standards Board, the barristers’ watchdog in England and Wales, on par with the body that regulates solicitors. The Solicitors Regulation Authority has for […]

BSB expect to be able to licence ABSs in April 2017

The Bar Standards Board expects to begin licensing alternative business structures imminently, saying long-awaited approval could be granted in the next few weeks. In its business plan for 2017/2018 – due to be published this week – the regulator will state: ‘We expect to be able to licence ABSs that are jointly owned and managed […]

LSB to have new chair

Exclusive: LSB to have new chair after Pitt decides against applying for reappointment By Neil Rose 15 March 2017 Pitt: 70 days’ work for the LSB a year The Legal Services Board (LSB) is to have a new chair in the coming months, after incumbent Sir Michael Pitt took himself out of the running for […]

The Compliance Office

Audit Compliance Ltd are now resellers of The Compliance Office which is an online database customised to allow for user friendly recording, reporting and automated email chasing in the context of risk, CPD’s and compliance logs maintained by Solicitors’ firms; The Compliance Office allows users to keep a record and monitor specific events in the context of regulatory […]

Dreamvar (UK) Ltd v Mishcon de Reya

I think that it is fair to say that many conveyancers have been shocked by the decision in Dreamvar (UK) Ltd v Mishcon de Reya (see Today’s Conveyancer January 30th 2017). But it is consistent with previous court decisions and follows basic principles. The buyer’s solicitors were held liable to a buyer client for breach of trust […]