Latest news
High Court rejects challenge to closure of ABS from solicitor who “lost ethical compass”
The High Court has rejected a challenge to the closure of an alternative business structure by the Solicitors Regulation Authority. It was the first time an ABS closure decision has been tested in the High Court.
SRA widens definition of ‘small firms’ by doubling turnover limit
The Solicitors Regulation Authority (SRA) has widened its definition of a ‘small firm’ by doubling the annual turnover limit from £200,000 to £400,000. The limit of four on the number of managers is not changing.
Gateley eyes acqusitions as it says listing will give “first-mover advantage”
National law firm Gateley has today formally announced its intention to float on AIM, saying the “first mover advantage” it will gain by being the first listed law firm will provide “a platform to expand and diversify”.
Former City and Foreign Office lawyer appointed to Ministry of Justice
The new ministerial team is taking shape at the Ministry of Justice, with a former City solicitor keen to replace the Human Rights Act with a British Bill of Rights among the new appointees.
‘Named and shamed’ barrister gets judge removed from disciplinary appeal hearing
Tariq Rehman, the barrister ‘named and shamed’ by the Legal Ombudsman (LeO) for the number of complaints against him, has succeeded in a last-minute bid to remove the judge hearing his appeal.
Gap in the market for “go-to employment advice website”
There is still a gap in the market for an “essential, go-to website for employment law”, Professor Roger Smith, solicitor and former director of JUSTICE, has said in an update to his report on digital delivery for people on low incomes.
Gateley confirms that work has begun on becoming first listed law firm
National law firm Gateley has confirmed reports that work to become the first publicly listed law firm is underway after it appointed bankers to advise on a £130m float on AIM this summer.
Cambridgeshire financial advisers use ABS to buy law firm
Cambridgeshire financial advisers Beacon Wealth Management have used an alternative business structure to buy a local law firm. Tony Larkins, managing director of Beacon, said it had always been his aim to own a law firm and accountancy practice.
Gove replaces Grayling as Lord Chancellor – but will it make a difference?
The legal profession returns to work today trying to decide whether or not the appointment of Michael Gove as the new Lord Chancellor and secretary of state for justice is an improvement on the deeply unpopular Chris Grayling.
BSB promises “lighter weight and less costly” regulation as it applies to licence ABSs
The Bar Standards Board has promised to provide “lighter weight and less costly” regulation than its rivals as it applied to become a regulator of alternative business structures last week. “Many potential entities” wanted to “exploit the greater flexibility” that operating as an ABS could provide.
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.
