The Legal Services Board (LSB) has rejected plans by the Solicitors Regulation Authority (SRA) to cut the indemnity cover limit for law firms from £2m to £500,000.
The Solicitors Regulation Authority is planning a major consultation on ethical values with the profession and the public next summer, chief executive Paul Philip announced yesterday.
Former Quindell executive chairman Rob Terry has formally lost his right to buy back nearly 9m shares in the company under the sale and repurchase agreement that led to his resignation.
Chartered legal executives will be able to set up their own law firms in the New Year – a move that ILEX Professional Standards said would for the first time also give solicitors’ firms a choice of regulator, and that the government said would help consumers access legal services.
Legal Futures Report
This first Legal Futures Special Report, in association with Thomson Reuters, examines the changing face of City law firms. It demonstrates how far City law firms have moved in a relatively short period of time, mainly (but not exclusively) in response to the recession and the demands of their clients.
Legal Futures Blog
It’s been nearly two years since we launched our Excellence Mark programme of client service support for LawNet member firms. And during this time we’ve completed over 1,000 mystery shopping exercises which have revealed some interesting insights for our firms. One of the things that stands out is the discrepancy that still exists between the scores achieved for the walk-in mystery shopping enquiries and those made on the phone.