Cutting the need for solicitors to hold client money in conveyancing transactions is among measures being looked at by the Solicitors Regulation Authority as part of a review of its strategy to help firms reduce the risk of mortgage fraud. The SRA announced today that it is looking again at its draft conveyancing strategy, published in April 2011, to ensure it provides ‘appropriate support’ to solicitors. The regulator said it will carry out a comprehensive review of current practices focusing on holding client money and the use of undertakings. It said the review will run until the end of 2013. One area under consideration is whether it would be possible to amend the conveyancing process in order to reduce the extent to which firms need to hold client money. Following engagement with the insurance industry, the SRA said it has decided to undertake work to get better information on the risks faced by solicitors during the conveyancing process and identify best practice to guard against them and help firms address any lack of robust risk management systems. The regulator has already visited 100 firms and feedback from them is being analysed. The SRA pointed to statistics showing that conveyancing has over the years accounted for a high proportion of claims on solicitors’ insurance and the compensation fund and an ‘unacceptable volume’ of complaints against the profession, as the reason to target this practice area. It said conveyancing claims represent about 50% of the value of professional indemnity claims arising against firms, and noted that there has been a substantial increase in payments made by the fund in the past few years from £9.23m in 2008 to £21.2m for 2010. SRA statistics over the past four years reveal that in 2008 there were 112 claims on the compensation fund for mortgage fraud, accounting for 6% of the 1,803 claims. The figures peaked in 2009 and 2010 when there were respectively 376 claims relating to mortgage fraud (8% of the total) and 324 (16.5% of the total). In the first two quarters of this year, there have been 110 claims related to mortgage fraud; 15% of the total number of claims. SRA executive director for policy Richard Collins said: ‘It is clear that we need to continue to target resources on conveyancing – both to assist firms in managing their own risks and compliance and to identify and prevent dishonest behaviour; either by third parties seeking to use solicitors’ firms for fraudulent transactions or by a small proportion of firms themselves.’ He said: ‘As a public interest regulator we need to ensure firms take seriously the risks in this area and establish good compliance and risk management systems so as to demonstrate an effective degree of internal control.’
A Police spokesperson Stated “Of significance we know the van was vandalised between 5 PM and 8 PM the previous night (Friday 12th) and we are keen to speak to anyone that may be able to assist with our enquires.”Anyone with any information should contact Police Scotland on 101 quoting incident 0848 of 13th April 2019. AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to LinkedInLinkedInLinkedInPOLICE in Dumfries are investigating after a yellow Ford Transit Connect van was destroyed by a fire during the early hours of Saturday 13th April.The van was parked in Armour Drive / Dinning Close and discovered alight around 5 AM. The fire service attended however the vehicle was extensively damaged.
Former Manchester United and Chelsea manager, Jose Mourinho, has backed Barcelona captain, Lionel Messi to win this year’s Ballon d’ Or, ahead of Juventus star, Cristiano Ronaldo.Messi is still in the European competition, after Barcelone saw off Manchester United.Barca are also currently on course to secure another La Liga title, while a Copa del Rey final against Valencia also lies in wait.Speaking on who will win this season’s Ballon d’ Or, Mourinho told Russia Today, “Messi is experiencing a fantastic season.“Now that Cristiano Ronaldo’s Juventus has been eliminated from the Champions, the Golden Ball is waiting only for the Argentine.”
Araya Diaz/WireImage(LOS ANGELES) — Jennifer Aniston, Julia Roberts and Morgan Freeman will lead a star-studded charity table reading of the classic 1982 film Fast Times at Ridgemont High.The fundraiser, called Feelin’ Alive, put together by comic Dane Cook, also stars Shia LaBeouf, Matthew McConaughey, Sean Penn and Henry Golding, and will benefit Penn’s nonprofit CORE, as well as REFORM Alliance — which was launched last year by a group including Jay-Z, Meek Mill, Robert Kraft and Michael Rubin.Exactly which roles the actors will play remains a mystery, although Penn, 59, says he won’t be reprising his memorable role as surfer dude Jeff Spicoli, only hinting, “I’m very confident in the new guy.”The actors’ parts will be revealed at the online event, taking place next Thursday.Original Fast Times director Amy Heckerling and screenwriter Cameron Crowe will make a special introduction at the event. Crowe, referencing one of Spicoli’s famous line from the movie, says in a statement obtained by Deadline, “It is, as a great man once said, ‘totally awesome.’”The original film also starred Phoebe Cates, Jennifer Jason Leigh, Judge Reinhold and Forest Whitaker.Dane Cook Presents Feelin’ A-Live, will be available to view via Facebook Live and TikTok through CORE’s Facebook page, and will also stream on Live X Live.By George CostantinoCopyright © 2020, ABC Audio. All rights reserved.