The Solicitors Regulation Authority had a busy year with 10,100 reports of concerns in 2021-2*
400 of these cases resulted in regulatory action.
The RANGE🏔️ of issues is striking.
Usual suspects were breach of confidentiality, misleading the court and taking advantage of a third party. BUT ALSO
Probes🔬 like:-
49 on aggressive litigation
23 on misuse of NDAs (e.g. trying to gag reports of crime)
18 on dubious investment schemes
252 on money laundering
184 on Transparency Rules (e.g. costs info on websites)
Sexual misconduct and bullying are no longer just for the firm’s internal procedures.
10 sexual misconduct cases went to the Solicitors Disciplinary Tribunal.
FINES💷 have increased with £257,000 in an AML case.
Together with Business Junction and Creditsafe I am involved with a:-
Round Table 🧑💼👩💼👨💼for law firms wanting to manage regulatory risk.
DM me for details.
hashtag#lawfirmcompliance hashtag#srainvestigations hashtag#lawfirmriskmanagement
*SRA Corporate Report issued July 2023
