Market intelligence for law firms of the future
Tag Results
Licensed conveyancers support retaining referral fees
A ban on referral fees in conveyancing is unjustifiable, according to a narrow majority of respondents to a Council for Licensed Conveyancers consultation – but there was strong support for enhanced disclosure requirements.
SRA fires warning shots over referral fee ban and “reckless trading”
Law firms will be held responsible for breaching the personal injury referral fee ban if they sign up to ventures that appear to be genuine joint marketing schemes but prove illegal, the Solicitors Regulation Authority has warned. It will also target senior individuals within firms that “recklessly trade into insolvency”.
Quarter of conveyancers have experienced attempted fraud, while third pay referral fees
A quarter of conveyancing firms have experienced a client attempting to commit property-related fraud or money laundering, new research has revealed. This frequency suggests that many firms “might be over-optimistic” about the likelihood of encountering similar attempts in the future
Claims management companies win ABS status as SRA launches referral fee ban guidance
A company that provides both claims management services and legal expenses insurance has joined forces with a law firm in an alternative business structure that needed a waiver to allow a 27-year-old solicitor to be its head of legal practice. It was one of two newly licensed CMCs.
LSB chairman warns MPs of “unintended consequences” of referral fee ban
Banning referral fees in personal injury may have unintended consequences that will be worse than the current situation, Legal Services Board chairman David Edmonds told MPs yesterday. He also said the current regulatory regime could move rapidly to a single over-arching regulator.
Survey: personal injury law firms face financial meltdown
Nearly a fifth of the north-west’s specialist personal injury law firms are considering shutting up shop due to the financial impact of the government’s civil costs reforms, with many predicting huge cuts in their profitability as a result of the new RTA portal fees, new research has revealed.
SRA approach to referral fee ban receives LSB green light
The Legal Services Board yesterday put the seal of approval on the SRA’s plans to regulate the referral fee ban. The news came as the Law Society pressed the LSB to provide reassurance that the way referral fees are regulated will be consistent across the entire legal profession.
Croydon PI solicitor teams up with local newspaper in novel approach to referrals
An entrepreneurial personal injury solicitor has teamed up with his local newspaper to create a community charity funded by a substantial donation every time he receives an instruction from a member of the public.
Admiral “set for deal” with Lyons Davidson to safeguard referral fee income
Admiral Insurance and national law firm Lyons Davidson – which received its alternative business structure licence in November – are having talks about linking up, but it will not involve the law firm being acquired, Legal Futures can report.
SRA set to offer informed guidance but not safe harbour over referral fee ban
The board of the Solicitors Regulation Authority will tomorrow be asked to confirm an outcomes-focused approach to implementing the referral fee ban, along with a commitment to develop guidance “as our knowledge of different schemes increases” – although this will fall short of ‘safe harbour’ advice.
