Law Society news
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AML round up: April 2024
Our round up of all the latest important anti-money laundering news and developments to be aware of.
National Crime Agency to create law sector SARs forum
The National Crime Agency (NCA) is to create a legal sector suspicious activity reporting working group to help further engagement from legal professionals across the UK.
Judicial factors reform a step forward but refinement still needed
New legislation to reform judicial factors is a step in the right direction but could be further improved to ensure clarity, accessibility and efficiency, according to the Law Society of Scotland.
Survey confirms solicitors’ alarm at Scottish Government’s legal regulation plans
Our latest annual members survey has confirmed the depth of concern at the Scottish Government’s proposal to give itself powers to control the regulation of the legal sector.
Cross-party report shows government wrong to try to politically control legal profession
A new report from a cross-party committee of MSPs has shown how Scottish Government plans to try and control the way the legal profession operates were wrong and risked undermining the rule of law.
AML Certificate 2022 results
Our anti-money laundering (AML) Risk Manager, Jenni Rodgers, provides an update on the key insights and analysis from the data that practices provided in the 2022 AML Certificate.
Updated UK AML guidance published
The Legal Sector Affinity Group has published an important update to its anti-money laundering (AML) guidance for the UK legal profession, including proposed changes to the identification and verification approach.
AML annual supervisory report 2023
Read our 2023 anti-money laundering (AML) annual supervisory report, covering the AML work we've undertaken over the past year and key stats on the regulated population.
Consumers must be protected from unregulated legal services
Consumers must be protected from the risks posed by unregulated legal services such as will writing and online divorces.
Licensed Legal Services Provider update
Work is ongoing to create a regulatory scheme for Licensed Legal Services Providers - read our short update.
Comment on judges response to Regulation of Legal Services Bill
The Society's President Sheila Webster comments on the response to the Regulation of Legal Service Bill from Scotland's senior judges.
AML round up: July 2023
Catch up on all the latest anti-money laundering (AML) news for the legal sector, plus what the AML team has been working on to help aid practices.
New Russian legal advisory sanctions webinar
Practices with exposure to Russian sanctions are being encouraged to attend a Ministry of Justice webinar on 18 July on new legislation that prevents UK lawyers from advising Russian companies in certain business deals.
New legal sector engagement forum
The Office of Financial Sanctions Implementation (OFSI) has set up a new legal sector engagement forum, which practices are being encouraged to join.
Results of AML thematic review of Policies, Controls and Procedures published
Our anti-money laundering (AML) team has published the findings of its major thematic review into practices' Policies, Controls and Procedures (PCPs). All practices in scope of the money laundering regulations are recommended to fully consider the findings of this report and review their AML PCPs accordingly.
AML attestation initial findings
The anti-money laundering (AML) team reveals the initial findings of its new supervisory attestation process, which was launched in November last year and is an ongoing piece of work reaching all practices who may not fall under the scope of our full high-risk AML inspection process.
AML breach reporting form updated
The Law Society of Scotland’s anti-money laundering (AML) team has released an updated breach reporting form.
Legal Sector Affinity Group updates AML guidance
The Legal Sector Affinity Group (LSAG) has published the latest update to its HM Treasury-approved guidance on preventing money laundering in the legal sector.
Law Society urges SLCC to minimise costs on solicitors
In its response to the SLCC’s proposed budget for 2023/24, the Society has questioned proposals for a 9% rise to the levy paid by solicitors and has urged the complaints handling body to to minimise cost increases.
Refreshed AML Client and Matter Level Risk Assessment templates
The AML team has launched a new Client and Matter Level Risk Assessment (CMLRA) template and guidance for members to use. Our AML Risk Manager Dale Trahms explains how to use the templates and why CMLRAs are important to get right.
SLCC report underlines need for regulatory reform
A new report from the SLCC has underlined the need for substantial reform to the processes for handling legal complaints.
Solicitors jailed for fraud
Iain Robertson, Alastair Blackwood and David Lyons were among a group of five men jailed for fraud following a nine-week trial.
Government reforms on legal regulation good news for consumers and the Scottish legal sector
Scottish Government plans to bring forward new legislation to reform and modernise the regulation of legal services are good news for consumers and the Scottish legal sector.
Court of Session confirms position on legal privilege and third party complaints
The Court of Session has confirmed its position on legal privilege in relation to third party complaints and has provided clarity on the limits of client confidentiality following publication of its opinion on 9 December.