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Two partners who acted both for former clients of a law firm shut down by the Solicitors Regulation Authority and for one of that firm’s solicitors have been fined by a disciplinary tribunal. However, they had to accept higher fines than had been agreed with the regulator to satisfy the tribunal’s view of the seriousness of their misconduct.

Comparisons between the 2012 Olympics and the compliance officer for legal practice (COLP) nomination process are more obvious than you might think: both were years in the preparation, shrouded in mystery, beset by operational PR disasters and, ultimately, over in a flash. This month’s blog brings you live coverage of the five-month dash: that’s how long your COLP has to get the firm’s house in order before they become responsible for compliance. Like bog-snorkelling and extreme ironing, the five-month dash is a niche sport, unlikely to grace the Olympics, but pundits are predicting there’ll be a least 11,000 participants by the end of the year.

Solicitors in Scotland could be banned from acting for both lender and borrower as the profession looks to hit back at firms being thrown off lender panels, it has emerged.

Our weekly round-up of other useful news and articles highlights worries that criminals are targeting failing law firms, accountants wanting more of the legal services market, concerns over new conflicts rules, a call to change the terms of PII cover, the need for more ethics guidance around LPO and much more.