Blog
SRA to undertake AML audits as enforcers keep focus on “professional enablers”
Jonathan Grimes
19 February 2019
Is the BACP’s new Professional Conduct Procedure any less Kafkaesque?
At the end of last year, the BACP finally published its long awaited revised Professional Conduct Procedure (PCP). Having consulted on amendments to the PCP as far back as 2015, the sheer length of time it has taken to unveil the revised procedure has not gone unnoticed by the Professional Standards Authority (PSA) who only renewed the BACP's accreditation on the condition that the new PCP be published before the end of 2018. The new PCP only applies to complaints received on or after 1 December 2018.
1 February 2019
FCA has its knuckles rapped in Upper Tribunal costs decision
In a recently published decision of the Upper Tribunal (Tax and Chancery Chamber), the Financial Conduct Authority (FCA) has been ordered to pay a portion of the costs incurred by Alistair Burns, the ex-chief executive of collapsed IFA Tailormade, in relation to proceedings arising from his reference of the Authority’s decision to the Upper Tribunal. The Upper Tribunal had upheld the decision of the Authority to fine and ban Mr Burns, although it had reduced level of the fine imposed.
17 January 2019
Is a solicitor under a duty to warn their client of risks falling outside their retainer?
The Court of Appeal decision in Cathal Anthony Lyons v Fox Williams LLP [2018] EWCA Civ 2347 has provided welcome guidance on a solicitor’s duty to advise their clients on potential risks and confirms that no such duty exists in respect of matters falling outside a solicitor’s retainer.
9 January 2019
AML: targeting the professional enablers – action not just talk
The significant sentence handed down (4th January, 2019) to a solicitor after being found guilty of three offences of money laundering shows that law enforcement is serious about cracking down on “professional enablers”. Scott McKay was sentenced to seven years imprisonment for money laundering committed in the course of his business as a conveyancing solicitor. It is reported that his conviction related to his work in the purchase of over eighty properties bought on behalf of members of a criminal gang.
27 November 2018
3,000 doctors face checks after psychiatrist who practised without a licence is sentenced to a five year prison sentence
The General Medical Council (‘GMC’) is urgently checking the qualifications of foreign doctors who were able to register in the UK under a now defunct provision in the Medical Act 1983 (‘the Act’).
