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News from the Devon & Somerset Junior Lawyers' Division

Posted by on 5th September 2017 in March 2017 |
News from the Devon & Somerset Junior Lawyers' Division This month's article has been written by the JLD's National Representative, Georgia Wookey.As National Representative of the Devon and Somerset JLD, I provide a voice to our members at National JLD level by meeting my counterparts from JLDs across England and Wales at the Law Society, London, three times a year. We last met at the end of January 2017 and as expected at the top of the agenda for discussion was the SRA's proposal for the introduction of the solicitors qualifying exam (SQE). 6 January marked the close of the SRA's second consultation into the introduction of the SQE and I understand th...

The one certainty for 2019 is change by sponsor Barclays

Posted by on 28th February 2019 in March 2019 |
The year now disappearing in the rear-view mirror brought healthy revenue growth for many. However, if 2019 is to see a repeat of this, firms will need to adapt to a fast-shifting environment.   Staying relevant to clients' needs   Changing client expectations around professional services mean firms need to remain close to their clients to make sure that what they offer remains relevant. Many clients are beginning to look for alternatives to traditional law firms for example. They want more than just a legal service – they want more rounded, innovative solutions. I think this opens up some really interesting opportunities for more progressive and niche...

SRA AML Thematic Reviews 2019 by Trevor Hellawell

Posted by on 2nd September 2019 in September 2019 |
Introduction   The SRA is currently conducting the second of its 2 thematic reviews for 2019. It has called for copies of 400 law firms’ risk assessments to assess the extent to which firms are integrating the more-detailed requirements of the 2017 Anti-Money Laundering Regulations.   This follows their first review, reported on in May 2019, into trust and company service providers (TCSP) – a survey of 59 firms only but indicative, nonetheless.   That published review identified a number of stark features: 26 of the 59 firms were referred for disciplinary action (though not for actual money laundering, but for sloppy breaches of the Regulations)...

News from the Devon & Somerset Junior Lawyers' Division: October Update

Posted by on 31st October 2019 in November 2019 |
    JLD Update: October 2019   The JLD kicked off October with a fantastic mixed event with DASLS at Sandford Brewery. This event included a tour of the cider works as well as numerous tastings and finally a round of pizzas to soak it all up.    All of the ciders made by Sandford only use apples grown within 30 miles of the press itself.  Well known Sandford options which you May have seen at your local include Devon Red and Red Mist.   A firm favourite tasting for the group was the General. This being their finest vintage cider which is aged in their mighty 100 year old oak vat nicknamed ‘The General,’ pictured here.   It was a fantast...

Brexit in the legal landscape: what does this mean for law firms? by Sponsor Barclays

Posted by Monique Bertoni on 31st August 2018 in September 2018 |
Professional services remain on the Brexit back burner     When Barclays started to write about Brexit back in 2015-2016, our experts believed it to be a surmountable headwind for the UK. Two years on, do Head of Investment Strategy, Will Hobbs, and Head of Government Relations, Peter Gordon, still agree?   In spite of lengthy Brexit negotiations, UK companies putting investment plans on hold and plenty of political manoeuvring within the Conservative Party, Barclays’ Will Hobbs and Peter Gordon agree that the resilience of the UK’s economy and stability of its political landscape are commonly underestimated.   The UK is not a corporate community...

Bank Reconciliations by Sponsor PKF Francis Clark

Posted by on 1st July 2019 in July 2019 |
AS THE COFA / PRINCIPAL COULD YOU FULLY EXPLAIN THE CLIENT RECONCILIATION REVIEW PROCESS?   We often see bank reconciliations where the COFA has diligently signed and dated the bottom of the reconciliation to evidence they have reviewed the reconciliation. When completing this sign off our experience tells us that it would be useful if the reviewer considered the following points: If the SRA asked what I have done to review this reconciliation what would I say? If the SRA asked me to explain the reconciliation to them would I be able to? Have I done enough to discharge my obligations as a Manager and / or COFA in the firm? The following is not exhaust...
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