Money Laundering Regulations
Solicitors Journal, Today’s Wills and Probate and one other media outlet report about the potential impact of proposed changes to the Money Laundering Regulations (MLRs) on the legal profession.
President Nick Emmerson said: “Solicitors play an important role in combating money laundering and remain fully committed to tackling illicit finance.
The Law Society fully supports the goals of a robust and proactive AML regime, including proportionate and risk-based MLRs being reinforced by appropriate guidance. However, the current MLRs do not achieve this, and changes are needed to accomplish this goal.
Many of the requirements are disproportionate, unnecessary and difficult to implement in practice for solicitors, particularly for smaller firms that have limited resources. We therefore welcome the opportunity to ensure the MLRs are more proportionate to the risks and emerging threats.”
Pro bono recognition list
Gazette reports that over 3000 solicitors have been included on the pro bono recognition list.
President Nick Emmerson said: “This list reminds us of the crucial role pro bono plays in our society, filling the gaps left by an overburdened and underfunded legal aid system.
An increasing number of individuals find themselves without the necessary support to navigate the legal system. While we celebrate the Pro Bono Recognition List and the dedication of thousands of lawyers, there is an urgent need to strengthen and expand legal aid to ensure that justice, as a fundamental right, is truly accessible to all.”
Women in Law Pledge
Today’s Family Lawyer reports that the Law Society of England and Wales’ celebrated the fifth anniversary of their Women in Law Pledge last week, as it was launched to promote gender equality and inclusion within different organisations.
President Nick Emmerson said: “This week’s anniversary is an opportunity to reflect and reiterate the importance of keeping gender equality at the forefront of the conversation.
The Pledge asks organisations to commit to seeing gender balance at all levels across the legal profession, tackling the gender pay gap and other inequalities that still affect women in law today.
As we mark another year of the Women in Law Pledge, I urge organisations to commit to promoting gender equality by signing up to the Pledge, either as a signatory or a champion.
Women make up 53% of the practising profession and there has been slow steady growth in women partners over the past few years. Despite this, women continue to experience barriers when attempting to reach senior levels.
The whole legal profession has a role to play in creating a positive change for women solicitors and ensuring they can attain the career progression they want and deserve.”
CILEX Regulation
Solicitors Journal, Gazette and Today’s Wills and Probate report that the Solicitors Regulation Authority is set to decide this week whether to proceed with proposals to regulate both authorised and non-authorised members of the Chartered Institute of Legal Executives (CILEX).
Chief executive officer Ian Jeffrey said: “The SRA must seriously consider whether the time, resources and management focus required to integrate CILEX regulation into the SRA is wise, given the other priorities the SRA faces in light of the collapses of Axiom Ince, Metamorph, Kingly and the SSB Group.
Now is not the right time for the SRA to seek to widen its regulatory scope or take on additional responsibilities. The SRA has failed to make the case for any positive consumer impacts – as highlighted by the Legal Services Consumer Panel’s consultation response – which underscored the lack of evidence and information from both CILEX and the SRA.
In common with CILEX members, we remain of the view that the regulation of CILEX members is best managed under the current bespoke arrangements with CRL.”
Memorandum of understanding
Global Legal Post mentions our memorandum of understanding with the Bar Council of India, as interest in India’s legal market surges.
Also worth a read:
- The chairman of the Bar Council has urged the Bar Standards Board to let it lead work on improving equality, diversity and inclusion in the profession. – Legal Futures
- Met police deny leaking names of Tories involved in betting scandal – Guardian
- Labour and Tory plans are unfunded, says IFS – Times (£)
- Conveyancers are facing a “an environment more hostile than ever before”, the owner of a well-known firm has warned. – Legal Futures
- Jails to run out of space in days, governors warn - BBC
- Julian Assange leaves UK after plea deal - Telegraph
- SRA’s client money warning: partners need to replace money at once. - Legal Futures
- Sunak claims Labour would make UK ‘illegal migration capital of the world’ - Standard