On 11 September 2024, the Ministry of Law (MinLaw) in Singapore, in collaboration with technology providers Lupl and Microsoft, has launched the ‘Copilot for SG Law Firms’ module, integrating Microsoft 365 Copilot into the Legal Technology Platform (LTP)[1]. This innovation positions the Ministry of Law’s LTP as one of the first sector-specific legal technology solutions…
Victorian Legal Services Board and Commissioner statement on the use of AI in Australian legal practice
The Victorian Legal Services Board and Commissioner (VLSBC), alongside other legal bodies in Australia, has issued a new statement on 6 December 2024 on the use of artificial intelligence (AI) in legal practice, outlining critical guidelines to ensure the ethical and professional application of AI tools. This statement highlights the evolving role of AI in…
ICLR 2024 conference in-depth report – part 2
This second of two special editions of ICLR news reports on some of the breakout sessions that took place at the last ICLR conference held in Melbourne between 16-18 October 2024. We also round up some of the other news and events that might be of interest to the ICLR community. Also see the first…
ICLR 2024 conference in-depth report – part 1
This first of two special editions of ICLR news provides an in-depth report of the recent ICLR 2024 conference, together with a round-up of some related regulatory developments taking place in October. This year’s ICLR conference was expertly hosted by the Victorian Legal Services Board and Commissioner (VLSB+C) in Melbourne between 16-18 October 2024, and…
Group of 7 Bars and Law Societies Statements on Artificial Intelligence (AI)
The Japan Federation of Bar Associations (JFBA) has endorsed a significant international declaration, the “G7 Bars’ Statement on Artificial Intelligence (AI),” which was officially supported by bar associations and law societies across the G7 countries, including the USA, Germany, Canada, France, Italy, the EU, the UK, and Japan. This statement, formalized on March 21, 2024,…
Solicitors Regulation Authority: Convictions highlight Chinese ‘underground banking’ danger
The recent convictions of seven individuals involved in a Chinese underground banking network highlight the complexities and risks associated with money laundering through informal value transfer systems (IVTS). This network was responsible for laundering over £55 million between February 2020 and June 2023, utilizing methods that circumvent traditional banking systems and national currency controls. The…
Law Practices at risk of losing client money, and their reputation
The recent sentencing of Victorian paralegal Athena Razos to over five years in prison for embezzling $1.56 million from a prominent Australian law firm has sounded alarm bells across Victoria’s legal community. This incident underscores the critical vulnerabilities within law practices regarding the hiring and oversight of non-legal staff. The Victorian Legal Services Board and…
Legal Services Regulatory Authority of Ireland publishes legal partnerships draft regulations
The Legal Services Regulatory Authority (LSRA) of Ireland is on the brink of introducing a new regulatory framework tailored for legal partnerships, marking a significant evolution in the structure for delivering legal services. This innovative framework is designed to support two types of partnerships: solicitor-barrister and barrister-only, with each configuration mandating the inclusion of at…
Anti Money Laundering Suspicious Activity Reports thematic review initial findings
The Law Society of Scotland’s Anti-Money Laundering (AML) team has published initial findings from its thematic review of Suspicious Activity Reports (SARs), indicating robust procedures in many firms but also highlighting areas needing improvement. The review, which examined 50 legal practices via a questionnaire, aimed to gauge the profession’s grasp of the SAR regime and…
The role of regulation in promoting diversity – or why the regulator should not stay out of the way
In a recent blog post, Mark Neale, Chief Executive of the Bar Standards Board of England and Wales, rebutted the suggestion from the Chair of the Bar Council that the regulator should “stay out of the way” concerning issues of equality and diversity within the legal profession. The Bar Standards Board very different stance on…