AML regime responsibility to pass to FCA amid ‘blitz on pointless admin’

anti-money laundering compliance

Chancellor Rachel Reeves has announced the Financial Conduct Authority (FCA) will become the Single Professional Services Supervisor (SPSS) for anti-money laundering (AML) as part of her ‘blitz’ on ‘pointless admin’ In an effort to save £6bn per year by 2029 the chancellor has announced sweeping changes to business bureaucracy at a Regional Investment Summit in […]

Reeves may target limited liability partnerships in budget to raise public funds

Limited Liability Partnership

Chancellor Rachel Reeves may target limited liability partnerships (LLPs) as part of her plans to tax ‘those with the broadest shoulders’ in the upcoming budget. Tasked with filling a sizeable hole in the public finances, in part due to the unexpected longer term impact of Brexit and austerity, the chancellor is reported to be considering […]

Removing the assumption of parental involvement- reaction from professionals

Presumption of parental involvement

The ‘momentous’ decision to remove the automatic assumption of parental involvement in family cases has been welcoming by the family law community with commentators applauding the move which protects children from preventable harm and renews public confidence in the courts.  The repeal of parental involvement from the Children Act 1989 has been widely welcomed by […]

SSB case reflects ‘deeper vulnerabilities’ in legal services with regulatory overhaul needed

The Solicitors Regulation Authority (SRA) must ‘overhaul its complaints handling and risk assessment processes,’ introduce better safeguarding measures for clients, be more proactive about redress for consumers, and embed a consumer culture for better outcomes as the fallout from the report into the failure of SSB Group continues.  A report published by the Legal Services […]

FCA raise romance scams warning as victims lose over £100m

Victims of so-called romance scams are being conned out of tends of thousands of pounds; with one victim losing more £428,000 according to the Financial Conduct Authority (FCA). The regulator estimates such scams cost victims as much as £106m last year. Cases have risen 9% in the last 12 months prompting the FCA to issue […]

Giving evidence in cohabitation claims: Lessons from Hampshire v Bonser

Fron Oleu

Unmarried couples who live together in England and Wales do not have special legal rights when they split up. There’s no statutory scheme to divide property. Instead, disputes are dealt with under general property and equity law. One key principle is the common intention constructive trust (CICT). A CICT can give a partner a share […]

Domestic abuse: exceptional or everyday?

domestic abuse, exceptional or everyday

The Domestic Abuse Commissioner’s report tells us that domestic abuse is everyday business in the family courts.  But, for the conduct of one of the parties to affect financial remedies outcomes upon a divorce or a dissolution of a civil partnership, it has to be conduct of a highly exceptional nature.  The fact that the […]