An independent review has found that the Solicitors Regulation Authority missed multiple opportunities to intervene earlier in relation to serious failings at PM Law Group. The report says the regulator held extensive intelligence but lacked the systems, processes and expertise to turn it into timely regulatory action, contributing to delayed intervention before the group’s collapse.
The Legal Services Board has escalated enforcement action against the Solicitors Regulation Authority, citing ongoing concerns about leadership, accountability and the regulator’s ability to respond quickly to risks affecting consumers and client money. The move follows further independent reviews linked to the collapses of PM Law Group and earlier failures at Axiom Ince and SSB Group, which together involved substantial losses of client funds.
The Society of Licensed Conveyancers has reiterated strong opposition to the Ministry of Justice’s proposed interest on lawyers’ client accounts (ILCA) scheme, arguing it is unfair, operationally burdensome and should not proceed before the consultation outcome is published. It says the proposal could add compliance costs and uncertainty for conveyancing firms while setting an unwelcome precedent for the use of client monies.
The Law Society has criticised proposed increases to Legal Ombudsman case fees, arguing that the changes could unfairly shift the cost of complaints handling onto legal service providers. The consultation on the Office for Legal Complaints’ proposed Scheme Rules changes has closed, with concerns raised about proportionality, access to justice and the impact on smaller firms.
The Law Society has criticised the Ministry of Justice after a job advertisement suggested work is already underway on the proposed Interest on Lawyers’ Client Accounts (ILCA) scheme. The proposal would divert a portion of interest earned on legal client accounts in England and Wales to fund justice services, despite strong opposition from the legal profession and the consultation outcome still being awaited.
New research cited by LexisNexis suggests AI use is now widespread across the legal profession, with most lawyers using it regularly and a minority relying on it heavily. The report also highlights persistent concerns around accuracy, fabricated outputs, confidentiality and over-reliance, alongside growing expectations that AI tools should be grounded in authoritative legal sources.
The article argues that conveyancing firms should approach AI adoption from existing professional and data protection duties, rather than starting with tool selection. It highlights the SRA’s warning notice and sets out five core obligations: accountability, security, lawful basis, processor governance and professional duty.
The High Court has dismissed part of Svella Connect’s claim against Virgin Media, finding that the fibre network framework agreements did not create an implied duty of good faith or guarantee any minimum volume of work. The court held that Virgin Media was entitled to seek competing bids and allocate work as the contracts expressly allowed, although separate claims relating to a later exit and settlement agreement remain ongoing.
The article reports that an anti-money laundering safety net was implemented ahead of schedule, being completed in four months rather than the planned six. No further operational details are provided in the excerpt.
HMRC has published its first official statistics on taxable cryptoasset gains, showing 17,600 individuals declared £1.38 billion in gains in the 2024 to 2025 tax year, including 240 people with gains above £1 million. The article also highlights growing regulatory scrutiny of cryptoassets, with new reporting rules and FCA standards due to take effect over the coming years, alongside continued caution from conveyancing regulators about source-of-funds checks.
The Solicitors Regulation Authority’s annual review found that most solicitors are keeping their knowledge and skills current, with firms generally showing robust systems to support competence. However, the SRA identified gaps in recording how learning needs are identified, limited evidence of ethics-focused training, and some weaknesses in client communication around risks, options and costs.
The Land Registry has updated Practice Guide 67 to clarify when evidence of identity is required and how it should be provided. The amendment specifically states that identity evidence is required for the person or company on whose behalf the excepted party acts.
