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Demystifying the banking process – what your bank looks for in your firm
The recession and continuing economic challenges highlight the increasing importance of law firms having an effective business strategy in place that considers the ambitions of the firm but ensures that those ambitions are delivered against access to suitable levels of cash flow. By Legal Futures Associate NatWest
Signs of recovery as smaller firms halt income slide and boost partner profits
Smaller law firms have halted the decline in fee income, while partner profits rose significantly last year, Law Society research has found. They saw an average increase of 0.2% in practice fee income in 2010, following a reduction of 6.5% the previous year.
SRA to review approach to conveyancing, financial stability and international matters
The Solicitors Regulation Authority will next year conduct ‘thematic reviews’ on its approach to conveyancing, the financial viability of law firms, and both English firms’ overseas practice and foreign lawyers working over here, it has emerged.
Ten of the best as SRA unveils four new core duties for slimmed-down code of conduct
There are to be four extra core professional duties when the Solicitors Regulation Authority (SRA) unveils a slimmed-down Code of Conduct later this week, it has emerged. The draft 40-page code – which will form part of an online Solicitors Handbook bringing together all of the SRA’s regulatory regime – is at the heart of next year’s move to outcomes-focused regulation.
Law firms face financial management duty
There should be a new core duty on financial management, along with requirements that firms disclose financial problems to their regulator, in the Solicitors Code of Conduct, the SRA has been advised.
