Risk 5 – Bogus law firms
With identity theft accounting for 41% of all fraud in the UK, it is hardly surprising that the issue of bogus law firms is also on the rise with 701 reports in 2014, a 101% increase since 2012. [...]
Risk 4 – Lack of independence
The SRA Risk Outlook 2015/16 highlights what it considers to be the high priority risks for the coming year. Here we take a look at Risk 4, Lack of independence, in a bit more detail. What is [...]
Risk 3 – Lack of a diverse and representative profession
There have been a number of initiatives over the past year that aim to reduce barriers and increase access to law firms, which is seen by the SRA as being the key to inclusiveness. Reducing [...]
Peter Scott on the merger process
We recently asked Peter Scott for his views on the merger process and some key things to consider. Have a read of what he had to say…. Take a merger reality check Recently figures were [...]
Are compliance and ethics the same thing?
How many times have we heard or do we use the word compliance in our everyday lives? According to dictionary.cambridge.org, ‘compliance’ is the act of obeying an order, rule, or request. It is [...]
Risk 2 – Misuse of client money
The misuse of client money is an ever-present risk, as identified in the recent SRA Risk Outlook [LINK]. In 2014, the SRA claims an average of 118 reports of misuse of money and assets each [...]
Risk 1 – Failure to provide a proper standard of service, particularly for vulnerable people
In its latest Risk Outlook, the SRA is keen for solicitors to recognise that many vulnerable people receive a lower quality service than should be expected. Solicitors must be able to recognise [...]
Diversity data collection
Once firms have collected their diversity data, it will need to be reported to the SRA from mid-August. The SRA will email authorised signatories with further details. Firms will have until the [...]
The SRA's Risk Outlook 2015/16
The SRA have released their Risk Outlook 2015/16, which has the stated aim of striking a balance between giving firms the necessary freedom to do business, but with a clear focus on maintaining [...]
Cyber crime remains high on the SRA's radar
As the legal profession continues to be targeted by scams and attacks from cyber criminals, the SRA identifies key risk areas and suggests that solutions need not be expensive or difficult to [...]
