Recent political statements as to the role professionals can play in money laundering by “providing a veil of legitimacy to organised criminals” has led to a focus on “lawyers, accountants and estate agents [who] are too often woven into their web.”
On 7 February 2019 the SRA published its response to the August 2018 Reporting Concerns consultation. As a result of the consultation, the SRA has decided to update its reporting obligation so that it reads as follows...
The Legal Services Board has now approved a comprehensive re-draft of the SRA Handbook. These new rules will be known as the SRA Standards and Regulations. These are due to replace the SRA Handbook at a date yet to be fixed between April and June 2019. Five of the key changes are summarised below.
If you’re in any way involved in the world of professional regulation it can’t have escaped your attention that the definition of what may constitute a lack of integrity has recently been defined, and arguably widened, by the Court of Appeal.
Whilst many solicitors before the Solicitors Disciplinary Tribunal (SDT) facing an integrity allegation would be relieved to avoid a strike off, the ability of the SDT to impose continuing restrictions on practice can have severe consequences on one’s career and the ability to earn a living.