LSB publishes plans to strengthen regulatory oversight in the public interest
The Legal Services Board (LSB) has published plans for 2024/25 on how it will ensure regulation contributes fully to delivering legal services that better meet the needs of society. The business plan is focused on the regulatory objectives in the Legal Services Act, which the LSB and regulators have a statutory duty to promote. The […]
Legal Services Board confirms interim leadership arrangements
The Legal Services Board has confirmed its interim leadership arrangements while its Board recruits a new Chief Executive Officer (CEO). This follows Matthew Hill’s resignation from the role in January 2024, ahead of his departure at the end of March. The existing three directors will share leadership responsibilities, while continuing in their current roles. Richard […]
SRA consults on potential regulation of CILEX students and paralegals
The SRA have launched a consultation on rule changes needed to allow the potential regulation of non-authorised Chartered Institute of Legal Executives (CILEX) members. The suggested arrangements explain the rules that would apply to CILEX paralegals and students should CILEX’s proposal to re-delegate regulation to us go ahead. CILEX published a consultation on its re-delegation proposals […]
Legal regulators must do more on transparency and harm prevention, says LSB
The Legal Services Board (LSB) has published its latest assessment of the performance of the eight legal services regulators. The LSB is the independent body responsible for overseeing the regulation of legal services in England and Wales. In it’s assessment, which covers the period October 2022 to May 2023, the LSB has reviewed the regulators’ […]
Financial watchdog stops thousands of misleading ads and promotions
Over 10,000 financial adverts and other promotions were withdrawn or changed in 2023 following intervention from the Financial Conduct Authority (FCA), an increase of 17%, year-on-year. The FCA also published 2,285 alerts to help prevent consumers from losing their money to scams, up from 1800 in 2022. After being given new powers by the Government, […]
LSB should renew focus on its core activities, says The Law Society
The Legal Services Board (LSB) should renew focus on its core activities, the Law Society of England and Wales said in response to its 2024/2025 business plan consultation. Law Society president Nick Emmerson said that they would “strongly encourage the LSB to renew focus on its core activities” and “only take on more workstreams based […]
SRA launches review of consumer protection
The Solicitors Regulation Authority (SRA), has launched a review of its overall approach to protecting consumers in response to shifting risks in the sector. The review focuses on two main areas. Firstly, how to reduce the risk that something goes wrong at a regulated law firm that causes harm to consumers. The SRA will be […]
LSB confirms review of events leading up to the SRA’s intervention into Axiom Ince
The Legal Services Board (LSB) has confirmed its intention to undertake an independent review of regulatory events leading up to the Solicitors Regulation Authority’s (SRA) intervention into Axiom Ince. This was a significant case with considerable consumer detriment. In the Board’s view, it will be important for public and professional confidence that any learning can […]
SRA issues more fixed penalties
The Solicitors Regulation Authority (SRA) has published more fixed penalties issued as part of its new financial penalty regime. £750 fines have been issued to five firms for not complying with the SRA’s transparency rules. This follows three firms being issued with fines for such breaches in November 2023. The first fixed penalty for a […]
Powers of attorney and registered land (PG9)
Advice on the evidence that HM Land Registry needs when an attorney has executed documents lodged for registration (practice guide 9). Change made: Section 7 has been amended as a result of the Powers of Attorney Act 2023. We will now accept a copy of a power of attorney if it has been certified by […]
LSB consults on 2024/25 business plan
The Legal Services Board (LSB) has asked for views on its proposed business plan and budget for the 2024/25 year to ensure it remains focused on “delivering a legal services market that better meets society’s needs.” To achieve this it has outlined a 13.9% increase on last year’s budget of £4.7m, to £5.3m, a real […]
Examples of unethical conduct undermining rule of law – LSB research
The Legal Services Board (LSB) has published new research concluding that proportionate regulation has a role to play in supporting the rule of law and responding to lawyers’ unethical conduct. The report, by Professor Richard Moorhead and Professor Steven Vaughan, explores the professional commitment of lawyers to uphold the rule of law, including promoting respect […]
SRA report examines use of AI in law firms
The Solicitors Regulation Authority (SRA) have shared a report outlining both the opportunities and risks associated with and presented by the use of Artificial Intelligence (AI). This report forms part of the SRA’s Risk Outlook series and the latest report specifically focuses on how AI is impacting the legal services sector. The report, whilst researching […]
CILEX proposals ‘fail to consider the wider regulatory context’, says The Law Society
The Law Society of England and Wales has expressed concern over the Chartered Institute of Legal Executives (CILEX’s) proposals for changes to the regulation of Chartered Legal Executives. CILEX is pushing for authorised Legal Executives to be regulated by the Solicitors Regulation Authority (SRA), despite its own members objecting to the idea of regulatory change. […]
SRA transparency rules compliance remains low, yet regulator sees success
An independent report has revealed that a significant number of law firms are still struggling to fully comply with the Solicitors Regulation Authority (SRA) transparency rules, even though a minority of legal practitioners believe these rules are in the best interest of consumers. The SRA, however, celebrates the report as evidence of the scheme’s effectiveness. […]
MyHMCTS Probate Applications – Update
Update: From Monday 23rd October 2023, anyone using MyHMCTS to make probate applications will be able to see all related documents on their dashboard, in the documents tab. Register for MyHMCTS: online case management for legal professionals – GOV.UK (www.gov.uk) Find step by step guidance on how to apply for probate online here.
Law Society recommends rise in salary for trainee solicitors
Aspiring solicitors should be paid £23,122 outside of London and £26,068 in London for qualifying work experience (QWE) for the Solicitors Qualifying Exam (SQE) or during their training contract, the Law Society of England and Wales has suggested. “We consider the increase in the recommended salary for aspiring solicitors to be appropriate at this time,” […]
LSB to review enforcement tools available to regulators
The Legal Services Board (LSB) has announced that it plans to review the enforcement and investigative tools available to legal services regulators, including the Solicitors Regulation Authority (SRA). This could include increasing financial penalties available to regulators, as well as enabling regulators to proactively gather information and share intelligence to help them detect and address […]
Seven in 10 firms don’t have cyber insurance, says Law Society
New research published by the Law Society of England and Wales shows that seven in 10 (72%) of firms have not purchased cyber insurance. The Law Society is encouraging members to consider purchasing cyber insurance and has developed guidance online which helps members navigate the purchasing process. Findings from the research also shows: Purchasing professional […]
SRA publishes latest suite of annual reports
The Solicitors Regulation Authority (SRA) has published its latest annual reports on its operational work during 2021/22. The reports cover areas including education and training, enforcement, approval of new firms and solicitors, and the activity of the compensation fund. A full annual report on preventing money laundering is published separately in October. Key facts highlighted […]
