Latest news
LSB tells regulators to monitor lawyers over ‘price transparency’
The Legal Services Board has urged the frontline regulators to keep a close eye on ‘price transparency’ among lawyers in the wake of a Legal Ombudsman report that said a quarter of complaints it received were triggered by a lack of clarity over fees.
A moment of legal history as investors start trading law firm’s shares
The price of shares in Gateley rose in early trading today as it broke historic new ground as the first UK law firm to list on the stock exchange. The AIM-listed business, which listed at 95p, saw its shares reach 110p initially before easing back to 99p by close of trading.
Miscarriages of justice charity transforms itself into law firm
A registered charity has become a fully-fledged law firm in what is believed to be the first transformation of its kind, after it received approval from the Solicitors Regulation Authority.
Big firms hit hardest by fall in conveyancing transactions, report finds
The top five conveyancing firms handled 36% fewer transactions in the first quarter of this year, a report has found, and their market share dropped from 8% to 6%. On average, firms handled 14% fewer transactions and the number of firms also fell.
High Court backs SRA over bankruptcy costs claim
The High Court has backed the Solicitors Regulation Authority in denying a trustee in bankruptcy the right to deduct his costs from client funds held by a solicitors’ practice after the principals were made bankrupt.
New-model firm pitches white-label regulation to overseas “non-dom” law firms
New-model practice Carbon Law Partners is set to launch a ‘white label’ service to enable foreign law firms to practise in England and Wales under their own brand, without having to seek regulatory approval or professional indemnity insurance in their own right.
Solicitor entrepreneur launches crowdfunding push for legal app
Lauren Riley, a solicitor entrepreneur who appeared on ‘The Apprentice’, is launching a bid next week to raise £150,000 for her legal app through crowdfunding. She said about 80 small and medium-sized law firms had registered an interest in the product.
Only 4% of CMC complaints relate to personal injury work, LeO reveals
Only 4% of complaints about claims management companies (CMCs) received by the Legal Ombudsman (LeO) relate to personal injury work, it has emerged, in the first release of figures since Leo began its new role.
Osborne: Ministry of Justice to find extra £249m in “savings”
The Ministry of Justice is to find an extra £249m of “savings” this year as part of government measures to reduce public debt, the Chancellor, George Osborne, revealed today. This takes the budget cut at the MoJ this year to nearly £1bn.
SRA board backs radical changes to separate business rule
The Solicitors Regulation Authority approved a radical overhaul of the separate business rule at its board meeting yesterday, despite strong opposition from the Law Society. The changes are planned to come into force on 1 November this year.
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.
