The Solicitors Regulation Authority (SRA) has published the findings of research it commissioned from the University of South Wales, examining consumer vulnerability in the legal market. The study aimed to identify practical tools to help the legal sector better serve vulnerable consumers and improve access to justice. However, rather than recommending a risk-based model similar…
Artificial intelligence requires greater attention from the legal sector, International Bar Association future of legal services commission report reveals
The second annual report from the International Bar Association’s (IBA) Future of Legal Services Commission (FLSC) warns that lawyers are treating AI as a future issue rather than an immediate priority, risking unpreparedness for its rapid impact on the legal sector. The 2024 Future of Legal Services – White Paper highlights the profession’s lack of…
Speech by senior judge in England and Wales at the LawtechUK generative artificial intelligence event
Sir Geoffrey Vos, the Master of the Rolls, the most senior Civil judge in England and Wales, delivered a speech at the LawtechUK Generative AI Event held in London on 5 February 2025. He urged legal professionals to embrace AI rather than resist its integration, emphasizing that AI is already transforming industries worldwide, and the…
Legal regulation amendments must remove political control of lawyers
The Law Society of Scotland has urged that new amendments to the Regulation of Legal Services (Scotland) Bill, lodged in the Scottish Parliament, must fulfill the government’s promise to remove political control over the legal profession. The Bill, originally introduced in April 2023, proposed sweeping new powers that would allow the Scottish Government to directly…
Consultation on the draft business plan and budget for 2025/26 of the Legal Services Board of England and Wales
The Legal Services Board (LSB) of England and Wales has proposed a new draft business plan for 2025/26, aiming to address systemic challenges in the legal sector and advance its ten-year strategy for delivering fairer outcomes, stronger confidence, and better services. This plan builds on previous initiatives while targeting new priorities to enhance regulation and…
Dedicated guidance issued to support in-house solicitors in England and Wales
On 18 November 2024, the Solicitors Regulation Authority (SRA) released comprehensive guidance tailored to support the over 34,500 in-house solicitors working across England and Wales. This initiative, developed in response to stakeholder feedback and issues highlighted in the SRA’s 2023 thematic review, aims to address the unique challenges faced by in-house lawyers across diverse sectors…
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…
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…
Conveyancers should move away from holding client accounts
Licensed conveyancers in England and Wales are being encouraged to transition away from maintaining client accounts, as discussed at a round-table hosted by the Council for Licensed Conveyancers (CLC). The discussion highlighted the risks and regulatory burdens of managing client accounts, including compliance, cybersecurity, and anti-money laundering efforts. Contributors to the discussion from the payments…