The National Association of Estate Agents (NAEA) has warned its members that they must comply with Anti Money Laundering (AML) regulations. The move follows an announcement from HMRC that it had fined online estate agency, emoov, for breaching the AML…read more
COFAs face disciplinary action in crackdown on law firm finance management. Published December 2019
Nineteen law firm compliance officers for finance and administration (COFA) faced disciplinary action in the year to March 2019 according to figures released by accountancy firm Hazlewoods. This was the highest number of referrals to the Solicitors Disciplinary Tribunal (SDT)…read more
The FCA targets pensions transfer advice firms. Published December 2019
The Financial Conduct Authority (FCA) is writing to around 1,600 IFA firms in a crackdown on pension transfer business. The regulator is concerned that too many clients are being advised to transfer money out of defined benefit (DB) pension schemes. …read more
Adjudicators’ decisions impacted by insolvency. Published December 2019
A couple who had a dispute with their housebuilder have fought off an application for their money to go into a general pot for the benefit of all creditors after the builder became insolvent. The builder had entered into a…read more
Court closures and staff cuts condemned by MPs. Published December 2019
A damning report by Parliament’s Justice Select Committee has demanded a halt to court closures and further staff cuts until the effects of closing courts has been properly assessed. Between 2010 and 2018 half of the UK’s Magistrates Courts and…read more
