Solicitors' Risk in Brief - August 2019

Published 8 agosto 2019

Regulatory

Indemnity Insurance and the Regulatory Revolution

The SRA Handbook came into force 6 October 2011, introducing a new Code of Conduct that was in part prompted by the advent of alternative business structures, and the desire of the SRA to open up the legal market in the wider public interest. That drive to keep pace with the changing consumption of legal services has, with effect from 25 November 2019, given rise to the new and more streamlined SRA ‘Standards and Regulations’, and the creation of two codes of conduct for firms and solicitors.

Anti-money laundering update

Anyone following the SRA’s social media accounts will know that preventing money laundering is a hot topic for the Regulator. Its #staySHARP campaign, telling firms to they SHould Assess, Report and Protect has been prompted by the fact that as many as four in ten law firms are flouting the anti-money laundering regime.

Authors

Catrin Davies

Newport

+ 44 (0)1633 657682

cadavies@dacbeachcroft.com

Philip Murrin

London - Walbrook

+44 (0)20 7894 6900

pmurrin@dacbeachcroft.com

Amy Harris

Bristol

+44 (0) 117 918 2631

aharris@dacbeachcroft.com

The SDT seeks to change the standard of proof

By Catrin Davies

In March 2014 the Legal Services Board (“LSB”) recommended that the Civil Standard of Proof should be adopted in regulatory proceedings against all professionals…