Christmas Message

Early in the new year, we will be undertaking a review of websites to ensure that they comply with the new rules and will write to individuals where there is non-compliance giving a further period to make the required changes.  The inspectors will also be ensuring compliance with the new Rules as part of the 2020 inspection round.  The CMA has indicated that it will be undertaking a review of the progress which the Legal Sector have made against its recommendations in the second half of 2020.

You also need to be aware that on 10th January 2020 the 5th Money Laundering Directive is due to be transposed into UK Law and we anticipate revised Money Laundering Regulations and Legal Sector Guidance.  A guide to the key changes will be issued as soon as possible.  In the meantime, please stay alert to news on the implementation of the 5th Money Laundering Directive. The Directive can be accessed here.

Finally, the Legal Services Board has recently completed the latest round of its Regulatory Performance reporting which measures the Approved Regulators’ progress against 26 individual measures under five categories.  The latest report, published today, can be accessed here.  We are pleased to note that the assessment continues to show that the Faculty Office is making progress against the various measures and we will be taking steps early in the new year to address the shortcomings identified where the LSB feel that we are not making sufficiently rapid changes, particularly around the transparency of our regulatory decision making.

It only remains for me to wish you a very Happy Christmas and a Prosperous New Year.

With kind regards

Howard Dellar
Office of the Court of Faculties