Solicitors Disciplinary Tribunal chief steps down following office lease fiasco December 5, 2022 The head of the Solicitors Disciplinary Tribunal (SDT) has stepped down from her position following news the tribunal is being forced to exit its offices. SDT chief executive Geraldine Newbold’s exit follows news solicitors will be forced to pay an extra £1.2m towards the tribunal’s new premises after its landlord decided to sell the building [...]
Solicitors watchdog should ‘reconsider’ plans for turnover-linked fines, Law Society says November 15, 2022 The Solicitors Regulation Authority (SRA) should “reconsider” plans to let itself begin serving fines equivalent to five per cent of a law firm’s annual revenues, the Law Society has said. The Law Society said fines matching five per cent of a law firm’s annual revenues would be “excessive and unjustified” as it urged the SRA [...]
Worcester woes suggest wider issues for rugby as a whole August 22, 2022 Rugby union has never been the cash cow that football has developed into and this week we could be seeing the latest club enter administration following a series of financial woes. It is expected, according to multiple reports, that west midlands Premiership club Worcester Warriors could suffer that fate later today following a winding-up petition [...]
Mishcon de Reya spent £12m on shelved London IPO August 16, 2022 Mishcon de Reya spent almost £12m in readying itself to list on the London Stock Exchange, before shelving its initial public offering (IPO) in June. In a Companies House filing, the law firm said it spend more than £11.7m on preparing for its IPO before calling the public float off for the “foreseeable future due [...]
Dominic Raab intervened to increase legal watchdog’s fining powers June 15, 2022 Justice secretary Dominic Raab personally intervened to push forward plans to increase the solicitor’s watchdog’s fining powers, after MPs called for a toughening up of the regulator, to deter law firms from working for oligarchs. The Deputy Prime Minister “sought the views” of the Law Society, Solicitors Regulation Authority (SRA), and Legal Services Board, whilst [...]
SRA to increase fining powers after pushing forwards with plans for £25,000 penalties May 24, 2022 The UK’s solicitor’s watchdog is set to increase its fining powers 12 and half times over, by upping its maximum fining threshold to £25,000. The Solicitor’s Regulation Authority (SRA) said it is pushing forwards with plans to increase its maximum fines from £2,000 to £25,000, after the plans came under fire from law firms. The [...]
BNP Paribas London executive keeps job despite naming Asian colleague ‘Hu She’ January 30, 2022 All eyes are on BNP Paribas this weekend as a senior lawyer manages to keep his job after it was revealed that he referred to an Asian colleague as “Hu She”. In a disciplinary inquiry at the French bank last year, Benedict Foster, head of legal for debt and equity at BNP’s London office, was [...]
Watch out lawyers: Solicitors’ regulator pushes for greater fining powers November 19, 2021 The UK solicitors regulator has proposed increasing its powers to issue fines of £25,000.
City law firm fined £25k for blocking football club transfers November 1, 2021 City law firm Mishcon de Reya has been fined £25,000 for allowing multi-million-pound payments to be made through its client account to agents involved in football transfers.
Mishcon de Reya and ex partner face prosecution by solicitors regulator over sports clients money July 30, 2021 Mishcon de Reya and its former head of sport are being prosecuted by a legal regulator for how the prestigious city law firm handled money for some of its sports clients. Both Elizabeth Ellen, who stepped down as a partner at Mishcon to set up a sports consultancy last year, and the law firm would [...]