JANUARY 2025 – ARTICLES & ITEMS OF INTEREST

JANUARY 2025 – ARTICLES & ITEMS OF INTEREST

2025 CPD CYCLE

The CPD Scheme booklet and record card for the 2025 CPD cycle are now available.

CPD Regulations (Solicitors (Continuing Professional Development) (Amendment) Regulations 2023) (S.I. No. 419 of 2023) (which amend the Solicitors (Continuing Professional Development) Regulations 2017 (S.I No. 529 of 2017)) came into effect on 1 January 2024. The 2025 CPD cycle runs from 1 January 2025 to 31 December 2025.

The minimum CPD requirement is 25 hours.  The CPD requirement for Sole Practitioners, Solicitors, Senior Practitioners and ways of completing CPD hours are the same as last year.

To view the booklet and record card see https://www.lawsociety.ie/Solicitors/regulation/CPD-Scheme/2025-cycle/

WARNING NOTE TO PUBLIC RE “ROWAN AND WALSH LAW”

On the 10 January 2025, LSRA advised the public that “Rowan and Walsh Law” is holding itself out as a firm entitled to provide legal services in Ireland through its website https://rowanand walshlegal.com/ in which it represents that it has offices at 19-22 Baggot St Lower Dublin D02AV63, Ireland.

The LSRA have set out that “Rowan and Walsh Law” is NOT a firm of solicitors registered with the Law Society of Ireland and is NOT entitled to provide legal services in Ireland.

To view this warning on the LSRA website and to find links to Solicitors and Barristers registered in Ireland please see https://www.lsra.ie/warning-notice-to-public-re-rowan-and-walsh-law/

UK RECENT STUDIES SHOW SUCESSFUL ATTACKS ON LAW FIRMS HAVE RISEN BY 77%

On the 15 January 2025, the website of the Law Society of England and Wales published an article on the rise of cyber-attacks.

The following are some extracts from the article: – “The cost of successful attacks is high not simply in financial but also in reputational terms.  Recent studies suggest that successful attacks on law firms have risen by as much as 77% in the past year.”

“We predict that advancements in AI will enable hackers to mount even more plausible phishing emails.  They are also already using voice manipulation software to mimic speech based on sampling of a recording of genuine conversations.  The speed at which this threat is developing means that we should all be focussing on this issue and monitoring developments and emerging risks to our businesses.”

“How can law firms guard against these risks?

• Central to all risk management is our people and comprehensive compulsory training and regular monitoring is key to this. If a problem arises, firms must try to demonstrate that they are genuinely operating a ‘no blame culture’ to avoid problems being buried.  It is always important to act quickly in the event of any compromise and firms who respond to attacks efficiently achieve better outcomes, including from a reputational perspective.
• Defend your systems so that frauds cannot start with your firm. Technical defences such as multi-factor identification, the blocking of suspicious emails and the application of update patches to software are all critical and achievable measures that all law firms can put in place.
• In addition, firms could consider storing documents across locations rather than centrally and could explore the use of cloud-based systems which some commentators regard as a more secure location in which to store sensitive information.
• Lastly, if things do go wrong ensure that you have a well-developed business continuity plan that will support your response to the incident. Businesses that plan for what to do when an incident occurs recovered faster and spent less according to the ICO.”

To view this article in full see https://www.lawgazette.co.uk/practice-points/the-rise-of-cyber-attacks/5122015.article

ENGLISH FIRM FINED £27,000 FOR AML FAILINGS

On the 7 January 2025, the Law Society of England and Wales website reported how a Birmingham firm which failed to have the right anti-money laundering measures in place for seven years has been fined more than £27,000.

The regulator had carried out an inspection at the firm to assess compliance and found a number of potential failings.  In two of eight files reviewed, the firm had not conducted ongoing monitoring, including scrutiny of transactions and customers’ source of funds checks. In three of eight reviewed, the firm failed to carry out any or any adequate due diligence.

The SRA added: ‘Although there was no direct loss to clients, the firm’s failure to ensure it had proper documentation in place, for at least seven years since the MLRs 2017 came into force, put it at greater risk of being used to launder money, particularly when acting in conveyancing transactions (which accounts for circa one third of the firm’s turnover).

The penalty was assessed as being 2.4% of annual domestic turnover, which resulted in a basic fine of almost £40,000.  The amount was reduced to £27,813 based on the mitigation provided.

To view this article in full see https://www.lawgazette.co.uk/news/birmingham-firm-fined-more-than-27000-for-aml-failings/5121938.article

EQUALITY DIVERSITY & INCLUSION

On the 23 January 2025, the Law Society of Scotland’s website published an article by Elaine MacGlone Equality and Diversity Manager titled “Change the Culture – our 2025 focus”

She states, “Our research and engagement with the legal profession in Scotland consistently highlights that workplace culture has the biggest impact on EDI in the sector. In our 2023 Profile of the Profession research, workplace culture was cited as an issue across a number of areas, including:

• The impact on work-life balance: The “always available” work culture is problematic and causes a negative impact on mental health.  69% of respondents reported poor work-life balance as a reason why they considered leaving the profession.
• An unsupportive environment: This affects the reporting of instances of bullying, harassment, and other hostile behaviour in the workplace, with respondents feeling discouraged from reporting due to a fear of reprisals.
• Women leaving the profession: 20% of respondents identified the established structure and culture of organisations as one of the top three reasons for women to leave the legal profession in their 30s and 40s.

Elaine MacGlone states “Workplace culture has a significant impact on attracting and retaining a motivated and productive workforce.”

Making the change

She states, “While changing a workplace culture sounds daunting, small steps can start the change.  One area to consider is fostering a culture of transparency within the workplace.  This could include adopting a culture of pay transparency, with salary information included in job adverts when recruiting.

Research by Reed suggests as many as four-fifths of potential candidates are less likely to apply for a role if the salary range is not included.  This means organisations that don’t could be missing out on the best candidates for their vacancies.

For existing employees, publishing information on salary bands and the factors included in setting them provides clarity to all and fosters a culture of trust between employees and the employer. It can have a positive impact on reducing a gender pay gap and may help retain staff who can see a clear pathway to developing their careers with their current employer, rather than moving to a new organisation.”

To view this article in full see https://www.lawscot.org.uk/news-and-events/blogs-opinions/change-the-culture-our-2025-focus/