Latest news
Number of probate firms approved by ICAEW tops 100
The number of accountancy firms authorised or licensed by the Institute of Chartered Accountants in England and Wales (ICAEW) to provide probate services has passed 100. The ICAEW has predicted that it will reach 200 by the end of the year.
First trading update from Gateley indicates strong growth in 2014/15
In its first trading statement since listing on AIM last month, national law firm Gateley said that it expects its 2014/15 revenue to rise 10% on the previous 12 months. Meanwhile, the listing “shows a new way forward in opening up the market through flexible regulatory practice”, the SRA said yesterday.
Marine mutual launches ABS to reduce claims, not make profit
A mutual marine liability insurer covering the smaller vessel sector has launched an alternative business structure to service member and non-member clients, with the object of reducing claims and not generating profit.
A thousand more law firms exempted from submitting accountants’ reports
A thousand more law firms will no longer be required to submit accountants’ reports, the Solicitors Regulation Authority decided at yesterday’s board meeting. The change is set to be introduced on 1 November 2015.
Gove announces review of Legal Services Act
There will a review of the Legal Services Act 2007 during this Parliament, the Lord Chancellor Michael Gove announced today. Giving evidence to the justice select committee, he also addressed legal aid, the importance of the criminal Bar, court transformation and court fees.
SDT blames mySRA problems as it rejects misconduct charges against solicitor
The Solicitors Disciplinary Tribunal has rejected misconduct charges against a solicitor who said he was the victim of technology problems with the Solicitors Regulation Authority’s online system, mySRA, that meant he was not aware of conditions attached to his practising certificate.
SRA to ask solicitors what they think about misconduct offences
The Solicitors Regulation Authority is to ask solicitors how they judge the seriousness of misconduct offences in a new initiative on professional standards. The move will result in a policy statement and decision-making framework for the regulator’s staff.
Personal injury CMCs enjoy sharp rise in income to £310m as market stabilises
The turnover of personal injury claims management companies (CMCs) bounced back 27% to £310m last year as the market began to “stabilise”, it has emerged. Applications by personal injury CMCs for authorisation from the Ministry of Justice also increased by almost two-thirds.
Think tank calls for compulsory pro bono and oaths for newly-qualified lawyers
An influential think tank has called for the introduction of compulsory pro bono for lawyers, set at 10% of their “work output”. It said that for many lawyers, the law had become “no more than a revenue-generating business”.
Time for law firms to go back to school, says BPP chief
Legal apprenticeships “are going to be massive” and law firms will have to respond by recruiting A-Level students straight from school, the dean of BPP Law School has predicted. Peter Crisp said he also believed the SRA would “force through” a centralised assessment test for would-be solicitors.
Blog
Awaab’s Law phase 2: New hazards council tenants can now claim for
The conversation on housing disrepair is moving beyond damp and mould alone. With the rollout of phase 2 of Awaab’s Law, the scope of issues covered is expanding significantly,
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.
