Holding of legal documents excluded from AML regulations

News Article - 01/08/2012 : HM Treasury, money laundering regulations, The Law Society, Risk & Compliance, Risk & Compliance

HM Treasury has released the Money Laundering (Amendment) Regulations 2012, which will come into force on 1 October 2012.

The new regulations are the culmination of a consultation process which began in 2009. The amendments...

Law Society publishes updated PII practice note

News Article - 01/08/2012 : pii, practice note, The Law Society, Risk & Compliance, Risk & Compliance

If you are a solicitor in private practice, you are required to take out and maintain PII in accordance with the Solicitors' Indemnity Insurance Rules, by 1 October each year, but current market forces mean it can be difficult to obtain....

Law Society voices concern over complaints proposals

News Article - 01/08/2012 : case fee structure, Legal Ombudsman, The Law Society, Risk & Compliance, Risk & Compliance

The Law Society has responded to the Legal Ombudsman review of its scheme rules and case fee structure.

"We have voiced concern over proposals to extend the jurisdiction of the ombudsman to third parties and prospective clients.

We...

Practice note helps firms to comply with diversity reporting requirements

News Article - 17/07/2012 : diversity, practice note, The Law Society, Human Resources, Human Resources, Practice Management

A new Law Society practice note will support solicitor firms and sole practitioners in complying with regulatory requirements to collect data on the diversity of their workforce. The requirement from the Solicitors Regulation Authority (SRA) is...

LSB “putting too much weight” on solicitors’ poor score in will-writing mystery shopping

News Article - 17/07/2012 : SRA, The Law Society, The Legal Services Board, will-writing, Practice Management, Practice Management

Concerns over the standard of will-writing by solicitors are based on limited evidence and the Solicitors Regulation Authority (SRA) should not have to prove its ability to regulate such work, the Law Society has claimed.

...

Cost of practising as a solicitor to rise well above inflation

News Article - 06/07/2012 : practising certificate fee, The Law Society, Finance, Finance

The cost of practising as a solicitor will rise well above inflation this year, mainly to ensure the Law Society has the funds to compensate the victims of fraud, but also to make up the cost of IT project overruns.

The Law Society council...

PC fee to rise by £16

News Article - 05/07/2012 : practising certificate, SRA, The Law Society, Finance, Finance, Practice Management

The Law Society Council has today approved a Practising Certificate fee increase of £16 for 2012/13, following last year’s 23 per cent drop.

The PC fee will increase by 5% from £328 to £344, while the Council also approved the Solicitors...

Law Society budgets for £10m deficit as Hudson receives 6.8% pay rise

News Article - 05/07/2012 : The Law Society

IT project “cost overruns” have contributed to the Law Society budgeting for a £10m deficit this year, it has emerged.

The 2011 accounts, which will be presented to the society’s AGM today, also reveal that chief executive Des...

Who owns your departing fee-earner’s LinkedIn contacts? New guidance warns firms to plan ahead

News Article - 04/07/2012 : social media policies, The Law Society, Human Resources, Human Resources, Marketing & BD, Practice Management

Law firms’ social media policies need to extend to issues such as who owns contacts and content developed by staff members through the use of networks like LinkedIn, while they should also be cautious about searching the social media...

PII support: get ready for renewal

News Article - 19/06/2012 : FSA, professional indemnity insurance (PII), The Law Society, Finance, Finance, Risk & Compliance, Practice Management

The Law Society has launched its 2012 PII buyers' guide to help you make an informed decision when buying professional indemnity insurance (PII) for the 2012-13 indemnity year.

This year the guide provides a particular focus on the...

Dundas launches investigation over 'irregularities' in partner's pitch

News Article - 18/06/2012 : investigation, The Law Society, Marketing & BD, Marketing & BD, Risk & Compliance

Scotland-headquartered Dundas & Wilson has launched a probe into a sector head who obtained confidential information about a client that prejudiced a tender process.

Keith Armstrong, a projects partner at the firm’s Edinburgh...

SRA defends bid to increase power to fine law firms from £2,000 to £250m

News Article - 08/06/2012 : ABS, fining powers, SRA, The Law Society, Risk & Compliance, Risk & Compliance, Practice Management

The Solicitors Regulation Authority (SRA) has rejected calls for it to have greater powers to fine alternative business structures (ABSs) than traditional law firms.

It has also dismissed suggestions by the Law Society that it...

The Law Society criticises minimum salary decision

News Article - 23/05/2012 : The Law Society, The Solicitors Regulation Authority, Human Resources, Human Resources

The Law Society has criticised the Solicitors Regulation Authority's (SRA) decision to scrap the trainee solicitor minimum wage.

From 2014 firms will no longer be obliged to pay trainees a minimum salary above the national minimum...

Law Society high street firms survey 2012

News Article - 16/05/2012 : legal services board, ministry of justice, The Law Society, Practice Management, Practice Management

The Law Society, in collaboration with the Legal Services Board and the Ministry of Justice, is undertaking an important survey of law firms in England and Wales as part of a longer-term project to assess the effects of the significant regulatory...

The Law Society announces new practice note

News Article - 15/05/2012 : practice note, The Law Society, Risk & Compliance, Risk & Compliance, Practice Management

The Law Society has issued a new practice note: Litigants in person

This practice note offers guidance on the issues that you should take into account in your dealings with LiPs, including managing any conflict between your duties to the...