QualitySolicitors is set to unveil a “new approach to delivering legal services”, Legal Futures can reveal. It comes as the company’s deal with WH Smith winds down and founder Craig Holt becomes president to focus on research and development.
The 1,300 law firms who have their professional indemnity insurance with Balva face the prospect of having four weeks to find new cover if the winding-up process the Latvian company started yesterday becomes an “insolvency event”, the Solicitors Regulation Authority has warned.
The Attorney General has rejected a call to cap the pay of lawyers instructed by the state at legal aid rates, arguing that the work of government is “vastly more varied and complex than that for individuals and corporate”.
The Solicitors Regulation Authority (SRA) will consider fast-tracking alternative business structure (ABS) applicants who want to bid for the government’s proposed criminal legal aid contracts, Legal Futures can reveal.
Legal Futures Blog
Your COFA should live, sleep, eat and breathe financial management. This isn’t optional; rule 1 of the Accounts Rules demands compliance with the SRA principles and Code of Conduct in relation to effective financial management of the firm. So what is effective financial management? Outcomes-focused regulation usually means you have to guess what the SRA expects; however, in a rare moment of clarity, the SRA has explained exactly what good and bad financial management looks like.