Julie Sorby highlights the CLC’s 2024 Risk Agenda’s concerns about post-completion work in conveyancing, emphasising the importance of diligence and integrity. Discover how ICOS, X-Press Legal Services’ Intelligent Conveyancing Online System, streamlines post-completion processes, reduces errors, and ensures compliance, ultimately supporting conveyancers and benefiting clients.

Kate Burt highlights the significance of the SRA’s Compliance Officers Conference on 5 November 2024, focusing on vital topics such as AML, cybercrime, and legal technology. Whether attending in-person or virtually, learn why this annual event is crucial for compliance professionals to stay updated on regulatory changes and network with industry leaders. Reserve your spot today!

Explore the growing threat of social engineering tactics, including phishing and pretexting, that exploit human psychology. This article outlines common techniques, real-world case studies, and essential strategies for legal professionals to safeguard their practices and protect client information from potential breaches.

Kate Burt discusses the SRA’s Warning Notice on mergers and acquisitions in the legal sector, focusing on the critical compliance risks for conveyancing firms. Discover best practices for safeguarding client interests, conducting thorough due diligence, and ensuring effective governance to successfully navigate M&A transactions while maintaining client trust.

Christian Lister explores the complexities of land ownership in the UK, where 12% is held by various entities, including the Forestry Commission and the National Trust. Delve into the political implications of housing developments, conveyancing intricacies, and the potential for litigation involving local authorities and private interests.

Open Banking is a type of secure guided bank transfer. It’s quicker and cheaper than clients paying by card or PayPal, and more secure and less prone to mistake and fraud than a bank transfer, cheque or CHAPS. 

Last month a law firm employee was convicted and sentenced to four years in prison after siphoning charity donations over a 13-year period. Effected beneficiaries included Cancer Research, Great Ormond Street and local hospices along with various animal charities.

Property transactions are synonymous with money transfers however the UK property market has witnessed some peculiar alternatives to cash that have been used to secure a property. 

Paul Philip, chief executive of the Solicitors Regulation Authority (SRA) caused much debate last month when he announced that the cost of regulation would ‘drop like a stone’ if solicitors were not allowed to hold client money. This coincided with news that, increasingly, some law firms are turning to third party managed accounts (TPMA) providers to handle their client money, thus reducing or, in some cases, negating the need for accounts staff in law firms entirely. 

Recently, I participated in the SRA’s Innovation: Technology and AI event where Microsoft showcased its ‘legal document drafting’ application and highlighted the benefits of retraining employees to integrate this new technology using meta prompts

As the April 1st renewal deadline looms closer, many law firms in the UK are feeling the pressure of their professional indemnity insurance (PII) renewal process.

Property fall throughs are estimated to have cost UK buyers and sellers £270m during Q3 of 2023 with a staggering 269,728 of property sales falling through during the course of the year.

As the landscape of finance continues to evolve, the emergence of cryptocurrencies has brought about both excitement and apprehension among professionals in the legal sector, particularly those involved in conveyancing.

By now most firms are aware of the well-publicised SDT decision in which Clyde & Co was fined a staggering £500,000 for AML failings. 

A letter arrives from SRA the notifying you of their intention to review your firm. The SRA is available to attend for a visit in a fortnight, a month or six months’ time….

Karim Mohamed, Partner in Professional Negligence at Lime Solicitors in Sheffield, has thirty years’ experience helping clients with negligence claims against all kinds of professionals. Here Karim shares with Complex readers his top ten tips for solicitors to protect against professional negligence claims.

A poll of 700 companies by the British Chambers of Commerce in September found that just under half had no plans to use AI, a figure that rose to 58 per cent for businesses selling to consumers. This is despite reports that in August 180.5 million people worldwide were using ChatGPT, one of the leading generative AI chatbots that have emerged this year.

This is an area which is often misunderstood by firms and whilst many firms are now confident to factor onboarding into their pricing, there are many firms that simply don’t realise that this is an option.

The SRA is coming to visit and as the firm’s MLRO it’s the one thing you’ve been preparing for your entire career! You’re really looking forward to showcasing the processes and procedures you’ve diligently perfected over the years and how they are working so well. Files are pristine and personnel know your procedures verbatim. All that’s now needed is to decide what biscuits to offer on the day!

At The Law Society’s National Conference in October, Peter Rodd, chief assessor for the Conveyancing Quality Scheme, told the 11% of firms who said they have not undergone a recent audit of practice-wide risk assessment for anti-money laundering, to get an audit done. 

Compl:ex Newsflash, the latest news and guidance; Don’t let your November start with an SRA fine & Professional Indemnity Insurance Renewals.

We couldn’t launch our inaugural issue of Compl:ex without including mention of AML checks.  They are the beginning of every property transaction and in many ways were also catalyst for the creation of Compl:ex.

The National Crime Agency has described Chinese underground banking as ‘the most prevalent money laundering threat faced across the Western world’.

Whistleblowing – we all know what it is but how much time are we dedicating to it?

It’s no secret that the SRA is taking an active interest in how firms are approaching their management of the sanctions regime.

Scott Reece, Head of IT Services at X-Press Legal Services takes a deep dive into Cyber Essentials with Geoff Coote CEO of Pro Networks Ltd.