Latest news
“There’s nothing to stop us competing with you”, trade union ABS warns high street firms
The co-founder of Britain’s only trade union-owned alternative business structure (ABS) has warned high street lawyers that there is nothing to stop it competing with them. He also expressed concern that the profession was becoming obsessed with profit at the expense of the client.
Growth of LawStore brand enables ABS to funnel work to panel firms
MTA Solicitors, the alternative business structure behind the consumer-facing high street LawStore brand, this week opened its third store and plans to open a fourth by the end of the year. MTA has begun to sign up panels of local law firms to deal with instructions it cannot handle.
MoJ mulls transferring regulation of claims management companies to FCA
The Ministry of Justice is considering transferring the regulation of claims management companies to the Financial Conduct Authority, it has emerged. The aim is to bring in a “much more rigorous regulatory regime for CMCs”.
Government proposes another QASA-style regime and referral fee ban
The Ministry of Justice today laid out plans for a statutory ban on solicitors seeking referral fees from advocates in publicly funded criminal cases – even though it admitted that the evidence for the move was “largely anecdotal” – alongside another quality scheme for criminal defence advocates.
Debt recovery giant’s ABS launch coincides with acquisition and merger
A fast-growing consumer credit management group in the middle of acquisition by a company funded by the global investor that also backed LegalZoom, has launched an alternative business structure. Lowell Group employs more than 1,200 people.
SRA asks public for help in how it should judge solicitors’ behaviour
The Solicitors Regulation Authority yesterday launched a massive public opinion poll to help it determine the correct baseline of solicitors’ behaviour on which it should base its regulatory decisions.
BSB-regulated entities reach 32, with pro bono and solicitor-run start-ups
A Bar Standards Board-regulated entity that challenges unlawful detention is to put on free immigration advice clinics, including one at Yarl’s Wood Immigration Removal Centre. Meanwhile, a north-west BSB entity run by two solicitors hopes to expand its boutique family law practice into overseas private client work.
Slater & Gordon records £20m UK profit
Slater & Gordon recorded a profit after tax of nearly £20m on turnover of £128m from its UK operation in the last financial year, its audited results have shown. The first month of Slater Gordon Solutions (SGS) – the new name for the professional services division acquired from Quindell – brought in £17m of income, at a net loss of £2.1m.
Confusion over complaints and ADR to continue, consumer panel chair predicts
Confusion over law firm complaints and the new European directive on alternative dispute resolution is set to continue, the chair of the legal services consumer panel has predicted. Elisabeth Davies said the panel was taken by surprise by the Legal Ombudsman’s change of heart on the issue.
Quotes? What quotes? Most conveyancing firms refuse to give them over the phone
Some 60% of conveyancing firms refuse to give fee quotes over the phone and, whether they do or not, the majority then fail to follow-up with their prospective client, ‘mystery shopper’ research has revealed.
Blog
Beyond PCP: Can regulators and lawyers work better together next time?
Nearly a decade after the Financial Conduct Authority began investigating the car finance industry, the story of the PCP commission scandal is still unfinished.
Accountability has to live within governance, not with one person
The assumption has long been that a COLP or COFA is personally exposed to the consequences of anti-money laundering breaches.
The SRA’s client money reforms: good intentions, questionable execution
On the face of it, the SRA’s plans to tighten protections around client money sounds sensible. The detail, as ever, tells a more complicated story.
