Latest news
Supreme Court backs law firm in breach of trust dispute
The Supreme Court has backed a law firm’s arguments that, following a breach of trust, it should have to pay in damages only the amount which the lender would have lost if the breach had not occurred.
Good drafting more important than SRA rules, say clients
Consumers and businesses believe that drafting “legally accurate and effective” documents is a more important quality of a competent solicitor than following professional rules, a major study has found.
“Nobody listens to the Law Society”, says leading academic
Professor Avrom Sherr, one of the country’s leading legal academics, has said that “nobody listens to the Law Society” since it lost its regulatory role.
Law school chiefs warn against central assessment test for would-be solicitors
Legal education providers have warned that the possible introduction of a new, centralised assessment test for all would-be solicitors by the Solicitors Regulation Authority could be “a step back”.
ABSs “should have to commit to pro bono work” as part of licensing process
The grant of licences to alternative business structures (ABSs) should be contingent on firms agreeing to undertake pro bono work, a Liberal Democrat peer suggested last night.
Big CMCs face £40,000 hit as government names day for new complaints regime
The Legal Ombudsman is set to start receiving complaints about claims management complaints from 28 January 2015 – some two and a half years after the switch from the Claims Management Regulator was first mooted by the government.
Bar Standards Board left with £100,000 bill after QASA costs ruling
The Bar Standards Board is facing a bill for over £100,000 after the Court of Appeal ruled that there was no need for it to be separately represented at the hearing of a judicial review against the Quality Assurance Scheme for Advocates.
Mass confusion over PII cover as SRA warns 1,863 firms that they are entering shut-down
Many of the 1,863 law firms e-mailed by the Solicitors Regulation Authority last Thursday that their apparent lack of professional indemnity insurance meant they would have to move into a period of shut-down had cover after all, it emerged.
Kennedys becomes second largest law firm to convert to ABS status
City firm Kennedys has become the second largest law firm to become an alternative business structure (ABS) after being awarded a licence by the Solicitors Regulation Authority. The firm said the licence will allow greater opportunities for growth.
SRA closes three South East law firms in two days
The Solicitors Regulation Authority closed three law firms in London and Essex in just two days last week, giving suspected dishonesty as a reason for each separate intervention.
Blog
Amplifying reach through employee-driven thought leadership
Nine in 10 executives believe thought leadership is critical to building authority, yet only a quarter feel they have implemented a robust strategy.
Divorce escrow: asset sales before final settlement
When significant matrimonial assets are sold before a final financial order is agreed, holding the proceeds safely and neutrally can present real practical challenges.
AML lacks clarity – and standards are suffering
If firms are buckling under the pressure of AML regulations, subject to ever-increasing fines, then something is clearly not working as it should be.
