The Solicitors Regulation Authority wants to know how law firms are handling the sanctions regime
It’s time to look at how your firm handles designated persons The Government’s financial sanctions regime is continually changing. It was created with national security objectives in mind and law firms play a critical role in its implementation. So much so that the sanctions regime applies to all firms that provide legal services, a broader […]
AML Case Study: Credit Suisse found guilty in money laundering case – understand what went wrong
Global investment bank Credit Suisse and a former employee were found guilty in a Swiss federal criminal court of failing to prevent money laundering, in a case that should serve as a wake up call for Swiss banks and financial institutions worldwide. In our new series of AML case-study one-pagers, VinciWorks has produced an insightful […]
VinciWorks is offering a free SRA diversity reporting tool
The Solicitors Regulation Authority (SRA) has announced that its mandatory diversity survey will be due sometime in the summer of 2023. The SRA has said that it will provide four weeks’ notification prior to the actual deadline. VinciWorks is proud to offer all law firms in England and Wales a simple, free and secure way to […]
Members’ Update – 28th April 2023
Domestic abuse lived experience, neurodiversity guide, upcoming intersectionality course and MySkillBoosters learning platform.
Lesbian Visibility Week
By participating in Lesbian Visibility Week you will be demonstrating to your employees and customers that you actively support the LGBTQI+ community.
Partner receives £32,000 fine secretly working on a deal with his firm on the opposite side
An experienced partner who secretly worked on the purchase of a property where his firm was acting for the seller has been fined £32,000 for a lack of integrity. 1 DON’T BUY DRUGS FROM YOUR CLIENT! This is definitely not advice we ever expected to be putting in here! However, a barrister has recently pleaded guilty […]
SRA Diversity Survey 2023 – What You Need to Know
Updated 1 June 2023 The Solicitors Regulation Authority (SRA) has announced that its mandatory diversity survey will be due in the summer of 2023. The SRA will open the survey on 26 June when they will email firms with a link for reporting. The SRA has given a reporting period of four weeks – the […]
SRA set to get new powers to enforce economic crime regulations
Firms and practitioners outside of the MLRs can be examined by the regulator Despite controversial proposals in the Economic Crime and Corporate Transparency Act to weaken the long-discussed failure to prevent fraud offence, the Bill also contains new powers for the Solicitors Regulation Authority to become an economic crime enforcer. Currently, the SRA’s powers to […]
SRA fines law firm for AML compliance failures
The firm was issued a £5,000 penalty following an investigation by the Solicitors Regulatory Authority into money laundering and terrorist financing risks. In a clear demonstration of the SRA’s willingness to flex its new fining powers, the SRA has penalised Settle-based Goad & Butcher for six years of anti-money laundering failures. The firm has also […]
Failure to prevent fraud: controversial new details announced
UK Government offers the bare minimum on fraud prevention The UK government had previously announced they are pushing ahead with a game-changing new regulation to expand the ‘failure to prevent’ family of offences to failure to prevent fraud. More details have now been announced about the offence which will be brought forward as part of […]