Latest news
2,700 firms sign up for Lender Exchange
More than 2,700 law firms have signed up for Lender Exchange, a website which stores information about conveyancing panel firms for mortgage lenders. However, negotiations with the Law Society over a relationship with the Conveyancing Quality Scheme have stalled.
Leading law firms failing to move with the times online, website study finds
The websites of leading law firms are failing to take advantage of consumers’ changing habits, a new study has claimed. The ‘white video’ issued by digital marketing agency mmadigital reported that 56% of the top 200 law firms do not have a mobile responsive website.
BSB probes contracts between chambers and solicitors
The Bar Standards Board (BSB) is investigating the extent to which barristers have been accepting work from solicitors without entering into contracts, or accepting terms “contrary to their regulatory obligations”.
Headache for 1,000 firms with SRA poised to pull out of consumer credit work
The Solicitors Regulation Authority has said it may have to stop regulating consumer credit work, such as debt collection, from next April. The regulator said it was aware that around 1,100 firms were involved in debt collection.
Law Society invests £5m+ in online conveyancing project
The Law Society has invested over £5m in a new online conveyancing system, to be launched next spring, which aims to revolutionise the home-buying process.
Quindell targets £1bn turnover as deafness cases rack up
Alternative business structure Quindell plc has nearly 45,000 noise-induced hearing loss (NIHL) cases on the go as it bids to hit the £1bn turnover mark, its latest trading update has revealed.
Kent council seeks ABS partner for £100m-plus joint venture
Kent Legal Services – the legal division of Kent County Council – has formally launched its bid for outside investment by issuing a tender for a commercial partner with which it will form a joint venture/alternative business structure.
Admiral Law records strong start to life as insurer/law firm ABS
Admiral Law – the alternative business structure (ABS) joint venture between Admiral Insurance and national law firm Lyons Davidson – made a gross profit of nearly £3m in its first seven months of trading, the company’s first accounts have revealed.
Pitt: regulators will work together on alternatives to client accounts
Frontline regulators are to collaborate on identifying business models that will avoid lawyers holding client money, it has emerged. The regulators will also come up with joint proposals to amend the Legal Services Act, for top level discussion early next year.
LSB attacks “arbitrary nature” of separate business rule
The Legal Services Board has attacked the “arbitrary nature” of the separate business rule used by the Solicitors Regulation Authority, and said the list of what is permitted and what is not is “confusing”.
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.
