Tag Results

Law Society fails to block Find a Solicitor negligence action

The Law Society has failed in a bid to block a High Court action against it for negligent misrepresentation, after a bogus solicitor got himself listed on the society’s Find a Solicitor website and stole money from a house purchaser.

December 23rd, 2014 | No Comments »

LSB backs rules to prevent large organisations claiming on compensation fund

The Legal Services Board has approved the introduction of restrictions that prevent large organisations from making claims on the Solicitors Compensation Fund. Claims will only be considered if they are made by individuals, small businesses, small charities or small trusts.

October 29th, 2014 | No Comments »

Law Society backs SRA “raid” on compensation fund but calls for alternatives to intervention

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.

May 31st, 2013 | 1 Comment »

“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.

April 25th, 2013 | 1 Comment »

SRA: evidence contradicts “popular myth” that conveyancing is low-value work

The “popular myth” that conveyancing is low value is not borne out by the evidence, the Solicitors Regulation Authority has found. But property work is continuing to cause the regulator problems, with stamp duty land tax schemes and ‘right to buy’ negligence litigation firmly on its radar.

February 14th, 2013 | No Comments »

ABS application bottleneck as just three make it through to decision phase in six months

Just three alternative business structure applicants made it through to the decision phase over the past six months, with 167 still going through the application process, new figures from the Solicitors Regulation Authority have shown.

November 7th, 2012 | No Comments »

Financial services change “will spark massive rise in claims against solicitors”, SRA warned

Scrapping the ban on solicitors referring clients to tied financial advisers would “make them prey to every tied or multi-tied product salesperson in the land”, leading to massive claims on the compensation fund and negligence actions, the SRA has been warned.

August 2nd, 2012 | 1 Comment »

Good news day for solicitors: both strike-offs and negligence claims fall

The number of solicitors struck off in the year to March dropped by 43%, while the number of negligence claims against solicitors reaching the High Court has also fallen, a flurry of new figures have shown.

July 9th, 2012 | No Comments »

Cost of practising as a solicitor to rise well above inflation

The cost of practising as a solicitor will rise well above inflation this year, mainly to ensure the Law Society has the funds to compensate the victims of fraud, but also to make up the cost of IT project overruns.

July 6th, 2012 | 1 Comment »

News in brief: Quindell targets CMC aggregation, “charitable referral fees”, solicitor ad wins TV award

Our regular round-up of news snippets features another acquisition by ABS-in-waiting Quindell Portfolio, a solicitor’s TV ad winning a Royal Television Society award, a firm donating referral fees to charity, and ABS compensation fund arrangements.

June 18th, 2012 | No Comments »