As global sanctions regimes continue to evolve and expand, solicitors and law firms face increasing pressure to ensure that they are in compliance with all applicable regulations. Non-compliance [...]
Register of overseas entities – Lessons for solicitors considering becoming a verification agent Last year I wrote about whether it is too risky for solicitors to act as verification [...]
Last year I wrote about whether it is too risky for solicitors to act as verification agents. I decided to find out first hand what the risk implications are, by signing up as a verification [...]
Terrorist financing – the forgotten piece of AML compliance Join us for our free webinar on this topic on 22 February at 12pm, in which we will explore some of the practicalities of [...]
Join us for our free webinar on this topic on 22 February at 12pm, in which we will explore some of the practicalities of terrorist financing compliance. The Terrorism Act 2000 (TA) makes it an [...]
Law firms with toxic cultures ‘should’ face disciplinary tribunal A recent joint statement on referrals to the tribunal published by the SRA aims to give some clarity about the types [...]
In response to the recent increase in regulatory fining powers at the SRA, the regulator and the SDT published a joint statement on referrals to the tribunal this week. The document aims to set [...]
The status of ‘freelance solicitors’ is a relatively new regulatory arrangement for the SRA, coming in with the 2019 Standards and Regulations. Before that, the only way for a solicitor to [...]
Not long ago, our fortnightly newsletter (COLP Insider) reported the occasional low level fine for firms incurring the ire of the SRA for AML failures. £600 for a lack of risk assessment here, [...]
Another fine mess: £20k SRA fine for systemic AML breaches Not long ago, we were reporting the occasional low level fine for firms incurring the ire of the SRA for AML failures. £600 for a lack [...]
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