The Legal Services Board (LSB) has told the regulators it oversees that now is the time for them to prove they can deliver what is expected of them, warning that it will put their promises “to the test”. The LSB said its focus in 2013/14 will be on the performance of the regulators.
Our regular round-up of important news nuggets includes the newest SRA-licensed ABS, an advice contract for the Co-op, a survey of top firms on how they are changing, a probe of SRA files to identify any racial discrimination, heavy fine for spam texters and much more.
A proposed £50,000 cap on compensation claims against alternative business structures licensed by the Intellectual Property Regulation Board is too restrictive, it has been argued as the board prepares to become an ABS licensing authority.
News in brief: CIPA chief eyes ABSs, Co-op boss to bow out, law firms are “cybercrime target”, and more
Our regular round-up includes strong backing for intellectual property ABSs, Eddie Ryan leaving Co-operative Legal Services, a new digital copyright licence for law firms, an “unacceptable” lack of transparency over PII commissions, and a warning that law firms are being targeted by online espionage.
Law firms to have extra year before publishing diversity data as LSB flags concerns over Bar exemptions
Law firms are to have an extra year before they must publish staff diversity data, after the Legal Services Board approved Solicitors Regulation Authority plans for a delay. But it was unhappy with the Bar Standards Board’s proposal to exempt chambers of fewer than 10 people.
The Intellectual Property Regulation Board (IPReg) will apply this year to become an alternative business structure licensing authority, it has emerged, joining the Solicitors Regulation Authority and Council for Licensed Conveyancers.
Twelve regulators and professional bodies from the legal, accountancy, financial and property sectors have finally signed a formal agreement aimed at co-ordinating the oversight of multi-disciplinary practices.
Our round-up of other significant news stories includes a law firm using its new PI advertising campaign to highlight its opposition to the Jackson reforms, and the Law Society/SRA moving into swish new Birmingham offices.
The Institute of Legal Executives is the first approved regulator to receive a clean bill of health for its internal governance arrangements for 2011. The Legal Services Board is currently reviewing the regulatory independence certificates submitted by each approved regulator where there is also a linked representative body. There is no news yet on either the Law Society or Bar Council’s certificates.
A single regulator for all legal services is “logical and plausible”, but not inevitable, a report for the Legal Services Board has concluded. Former Ministry of Justice official Nick Smedley argued that the existence of multiple regulators “focused on the differences of individual practitioners” is unlikely to be relevant in a post-alternative business structures market.