Solicitor Publications Archive
The latest news. Straight from the Hawsons' mouth.Downloads
Our team regularly produce publications on the latest current developments in the solicitor sector. Download below.
Recent articles
Our expert solicitor accountants regularly publish articles on current developments in the sector. Read below.
SRA Fine Law Firm a Record £20,000 for AML Failings
The SRA has increased their fining power Last year the SRA increased its fining powers from £2,000 to £25,000 to enable them to impose larger fines on legal firms that fail to implement adequate Anti Money Laundering training and systems. Before this change any fines...
Law firms plan to reduce office space
A recent survey conducted by HSBC between May – July 2022 has found that 50% of respondents plan to reduce their office space within the next three years. It is important to note that this survey was conducted before the latest economic issues developed. This is an...
SRA replaces Indemnity Fund
What is the indemnity fund? The Solicitors Indemnity Fund (SIF) was established in 1987 to provide compulsory professional indemnity cover to all solicitor firms in private practice in England and Wales. With the agreement of The Law Society of England and Wales, the...
Legal sector continues to grow in July
Recent statistics have revealed that the legal sector has defied predictions of a slowdown. Data from the Office for National Statistics has revealed that turnover for the legal sector for July was £3.7bn, an 8.3% increase from July 2021 (£3.4bn) and a 2.2% increase...
Larger volume of work for in-house lawyers
Recent sector research has found that the biggest challenge facing in-house legal teams is managing risk whilst prioritising large volumes of work. It is important to note that this was a global survey formed of 169 legal, risk and compliance professionals. Over 20%...
SRA Confirms Fining Power Increase to £25,000
Towards the end of 2021 the SRA announced that they were proposing an increase in fining powers from £2,000 to £25,000. In addition, the regulator announced the development of a new fast track system for ‘fixed penalties’ for low-level offenses. It was recently...