The Law Society of Scotland has provided an update on the status of licensed legal services providers. Traditionally legal practices can only be owned by lawyers holding a practice certificate, these new Legal Service Providers can be owned by non-lawyers, though they still need to be majority (51%) owned by solicitors or members of specified…
The Solicitors Regulation Authority issues a thematic review of the use of Non Disclosure Agreements in workplace complaints
The SRA has released a thematic review that discusses the use of Non Disclosure Agreements (NDAs) in workplace complaints. The review recognizes the legitimate place NDAs have in agreements to protect commercial interests, reputation, and confidentiality. The key findings of the review found that generally most NDAs between employers and employees complied with the requirements…
The Solicitors Regulation Authority has published an anti-money laundering and terrorism financing risk assessment for the legal industry
The Solicitors Regulation Authority has published an anti-money laundering and terrorism financing risk assessment. The report aims to assess the risks associated with money laundering and terrorist financing in different sectors. The report provides an overview of the risks associated with different sectors, including banking, insurance, and securities. It also provides information on the regulatory…
The American Bar Association has published a third draft discussion paper on amendments to lawyers’ client due diligence
The American Bar Association have published a Discussion Draft of possible amendments to the Model Rules of Professional Conduct. The Standing Committees on Ethics and Professional Responsibility and Professional Regulation have developed this draft to address lawyers’ client due diligence obligations. The previous two discussion papers have focused on Model Rule 1.2(d) (Scope of Representation…
IAALS Publishes Report on Regulatory Innovation
The IAALS has published a report: Community & Cooperation: Action Steps toward Unlocking Legal Regulation that summarizes discussions held at a meeting in 2022 on regulatory innovation. The report proposes next steps for regulatory innovation and serves as a resource for those interested in improving the regulatory system. The report covers the following topics: The…
Fourth edition of Lawtech Insight from the Solicitors Regulation Authority of England and Wales
Edition 4 of the Solicitors Regulation Authority’s Lawtech Insight has a featured article from Journalist Jane Wakefield, who talks to law firms and tech experts about the impact AI is having on the sector as a whole and what, if any, role it will play in their business. This issue also covers the topics: AI…
International Bar Association releases report setting out governance best practice to help businesses protect themselves from cyber attacks
The IBA’s Presidential Task Force and the Legal Policy & Research Unit has released a report entitled: Global perspectives on protecting against cyber risks: best governance practices for senior executives and boards of directors. This report provides first of its kind global perspectives on best governance practices for directors and senior executives in protecting their…
Jane Malcolm named new Chair of Scottish Legal Complaints Commission
The Scottish Legal Complaints Commission has announced the appointment of Jane Malcolm as its new chair. Malcolm has a strong track record of strategic leadership in professional regulation, working in the public interest. She has a particular interest in consumer-centred services and policy, with a sharp focus on improving the experience of those who use…
Law Society of Ontario notifies profession on amendments to the Mandatory Disclosure Rules
The Law Society of Ontario has notified members about amendments to the mandatory disclosure rules in the Income Tax Act (ITA) by the federal government in the Budget Implementation Act 2023. The changes expand the existing reportable transactions regime significantly, including broadening the definition of reportable “avoidance transactions” and reducing the number of hallmarks required…
The National Association for Law Placement’s (NALP) report on diversity discusses the progress made and the ongoing challenges for LGBTQ+ lawyers in US
The National Association for Law Placement’s (NALP) recent report on diversity in U.S. law firms shows that the overall percentage of LGBTQ+ lawyers increased to 4.17% in 2022, roughly half a percentage point higher than in 2021 and almost 4 times the amount of LGBTQ+ attorneys reported in 2002. Representation has increased at a more…