Enhancing Security Through Regular Software Updates
In today’s digital landscape, cybersecurity is a paramount concern for law firms. The sensitive nature of legal work demands robust security measures to protect client information and maintain professional integrity. One of the most effective ways to enhance security is by ensuring your legal practice management software is kept up-to-date. Guard Against Emerging Threats Hackers […]
Everything you need to know about AML for conveyancers
Every Property Law Solicitor and Conveyancer knows that carrying out an Anti-Money Laundering (AML) check before taking on a client is crucial to ensure compliance. AML checks help to prevent illegal activities such as money laundering and terrorist financing within conveyancing transactions. The volume of transactions and high property values, especially in London and the South East, […]
Top 5 tips for speedy CON29DW returns
To celebrate the 10th anniversary of the Drainage and Water Searches Network (DWSN), we are developing a series of webinars delving into the questions contained within a CON29DW search. Our first webinar, Top 5 tips for speedy CON29DW Returns, is now available on the DWSN YouTube Channel and below, which you can also access at […]
First firms certified with GDPR compliance standard
A pilot scheme launched to provide law firms with a better understanding of General Data Protection Regulations (GDPR) and demonstrate compliance with its obligations has seen the first firms certified. The Legal Services Operational Privacy Certification Scheme (LOCS:23) is the first sector-wide GDPR certification standard for legal service providers and their solution partners. The standard […]
Law Society ‘grateful’ for TA6 form feedback as no confidence vote proposed
The Law Society have said they are ‘grateful’ for feedback from conveyancers following the uproar that ensued after the release of the updated fifth edition of the TA6 Property Information Form A new practice note and ‘frequently asked questions‘ (FAQs) was published by the Law Society this week, providing guidance on the Consumer Protection from […]
How to Choose the Right Digital Provider for AML/KYC Checks
Today, anti-money laundering compliance is more than identity verification; it encompasses a comprehensive approach that involves understanding clients, assessing risks, and monitoring transactions. Traditionally, Know Your Customer (KYC) and Anti-Money Laundering (AML) checks have relied on manual procedures. This often entails in-person meetings with clients, manual identity verification, and email exchanges to gather essential documents […]
TA form furore – stinging criticism of Law Society
The Law Society has come in for criticism for its handling of updates to the property protocol forms. The forms have been updated to include more information about the property that can be used for compliance with National Trading Estate and Letting Agency Team (NTSELAT) guidance on material information. At the time Law Society president Nick […]
Firms flag just 0.2% of transactions as suspicious
Law firms must continue to remain vigilant to red flags and suspicious activity in property transactions as research reveals the number of Suspicious Activity Reports (SARs) submitted by legal and conveyancing professionals has fallen by 13% year on year. The SARs Annual Statistical Report 2023 reveals the SARs figures for independent legal and conveyancing professionals […]
Levelling-up and Regeneration Act 2023: Changes to the limitation period for planning enforcement
A significant change to the law effective today (Thursday 24th April) is poised to catch many property lawyers off guard. From today a much stricter approach to planning enforcement will be implemented, impacting property owners, developers, and (not to forget) property lawyers. In England (as opposed to Wales) under the new law, when there is an […]
Extension of Japanese Knotweed responsibilities ‘leaves vendors open to litigation’
The updated TA6 property information form, released by the Law Society in the past week, places a new onus on vendors to be clearer about the risks posed by the incursion onto the property of Japanese Knotweed, and failure to properly identify the risk could lead to more claims warns CLS Property Insight, who point […]
Scale of AML non-compliance forces SRA into action
Law firms have been warned they must do more to properly assess money laundering risk after a report last week identified 1/3 of firms are still not fully compliant with their obligations. The scale of non-compliance has forced the Solicitors Regulation Authority (SRA) into issuing a warning notice to “remind the profession of its obligations […]
1 in 3 firms compliant with AML regime – SRA annual report
The latest Anti-Money Laundering (AML) annual report from the Solicitors Regulation Authority (SRA) has been released, detailing the regulator’s stance and approach to AML regulation for law firms. In it, the SRA warns that it is increasing its focus to “ensure that all solicitors understand and meet the obligations of the financial sanction regime.” Over […]
Conveyancers warned of heightened fraud risk
Conveyancers and home movers have been warned about the increased risk of “Friday afternoon fraud” after data from UK Finance showed £22.5 million of bank transfer losses via the inter-bank Chaps system. The warning, which comes from the National Association of Property Buyers (NAPB), highlights the availability of an estimated 12.5m personal email account details […]
The low-down on effective AML Compliance
Regulation is on the rise and the sanctions landscape is constantly evolving, which can make avoiding complicity in international money laundering or criminal financing feel like a full time job. Law firms are, now more than ever, required to put the right policies and measures in place, and take the necessary steps to prevent money […]
Conveyancing Association Conference Agenda Confirmed
The agenda for the Conveyancing Association Conference 2023 has been confirmed. Hosted at the Leonardo Royal Hotel in the heart of the City of London on 7th February, the conference will discuss a range of topics affecting conveyancers in 2023 including regulation, digitisation and consolidation. Under the title, ‘Change is Coming’, the 2023 Conference will […]
15 years at the coalface of conveyancing searches
In the latest Today’s Conveyancer podcast David Opie is joined by Scott Reece. With a background in the installation of technology in medical practices, Scott (by his own admission) was somewhat of a novice when he and his wife joined the X-Press Legal Services network in 2007 in a complete change of scenery. Their franchise […]
Register of Overseas Entities – what does it mean for conveyancers?
The implementation of a Register of Overseas Entities (ROE) will help law firms tackle the opaque nature of foreign ownership and support efforts to tackle money laundering in the UK property market, says Mike Ward, Executive Chairman of Armalytix on the latest Today’s Conveyancer Podcast Effective today, 1st August, overseas entities are required to provide […]
Tech comparison index will enable conveyancers to benchmark against peers
Conveyancing firms will be able to compare their technology and digitisation against peers with the launch of the Digital Conveyancing Maturity Index by conveyancing technology platform provider InfoTrack. Claimed to be an industry first, the index will survey the digital conveyancing capabilities of law firms to understand how digitally advanced their processes are or are […]
The Ombudsman’s corner: 22nd July 2022
When I speak to service providers I often get asked to advise them on what their approach should be if, having received a complaint from a client, they find that things had gone wrong and they have to uphold the complaint. How should they then put things right? At the Legal Ombudsman our approach, when […]
SRA fining powers increased to £25,000 despite industry push-back
The Solicitors Regulation Authority (SRA) will be given new powers to fine rule-breakers up to £25,000, under measures introduced last week. The changes mean the SRA can now fine law firms and individual solicitors for a broader range of offences – from lower-level cases involving inadequate staff training to those with more serious consequences including […]