The High Court has rejected a challenge to the closure of an alternative business structure by the Solicitors Regulation Authority. It was the first time an ABS closure decision has been tested in the High Court.
The Solicitors Regulation Authority recorded a sharp rise in the number of interventions last year that involved suspected dishonesty, new figures have revealed. It also highlighted growing delays in cases going through the Solicitors Disciplinary Tribunal.
The Solicitors Regulation Authority has decided against testing the financial stability of thousands more law firms despite concerns about how widespread problems are in the profession, it announced yesterday.
The Solicitors Regulation Authority needs to establish a new expert panel that would be called in to help avoid formal intervention into failing law firms – dubbed ‘intervention lite’ – a specialist solicitor has claimed.
There may be circumstances in which the eight-day period solicitors have to challenge interventions into their practices should be extended, the Court of Appeal has suggested.
The Solicitors Regulation Authority (SRA) is working its way through the hundreds of firms and individuals facing enforcement action over compliance officer failures – but has now found another 205 firms that require investigation.
The Solicitors Regulation Authority needs to consider alternatives to intervening in failing law firms, the Law Society has said, while accepting the “emergency” need for the regulator to dip into the Compensation Fund to pay for the unexpectedly high cost of interventions this year.
“Pointless” consultation to set out SRA plan to pay soaring intervention costs from compensation fund
Solicitors Regulation Authority plans to consult on whether the cost of interventions in failing law firms should be borne by the Compensation Fund have been queried as pointless because there is no realistic alternative.
The managing partner of Blakemores – which suddenly closed on Monday – said the firm was almost saved by its consumer-facing Lawyers2you brand but succumbed to a string of financial blows. Guy Blakemore gave a candid interview to Legal Futures.
The proportion of black and minority ethnic solicitors (BME) named in complaints about conduct to the Solicitors Regulation Authority surged last year, the third year in which the figure has risen. BME solicitors comprised 27% of all conduct complaints.