Latest news
SRA joins National Crime Agency in crackdown on solicitor money laundering
The Solicitors Regulation Authority (SRA) is launching a crackdown on money laundering today, in conjunction with the National Crime Agency (NCA).
LSB: accountant will investigate PC fee spending
The Legal Services Board is to hire an external accountant to examine how the Law Society and other regulators spend money raised through compulsory practising certificate fees.
NewLaw’s “encouraging” start to life as part of listed company
Pioneering alternative business structure NewLaw has made “an encouraging start” to life under the ownership of accident management business Redde plc, the company said yesterday, with profits of £2.1m in its first four months.
Personal injury to blame for Co-operative Legal Services losses
Falling revenue from personal injury work is the reason for the £5.1m loss announced by Co-operative Legal Services (CLS) yesterday, managing director Matt Howells has said.
The Dragon’s roar: Caan investment helps Knights’ turnover soar
Turnover is up by two-thirds in the two years since James Caan invested in Staffordshire-based Knights, the firm has announced. The firm, which has offices in Stoke, Chester and Cheltenham, has seen turnover go from £9m to £15m.
SRA mulls scrapping COLP/COFA regime for small firms
The Solicitors Regulation Authority (SRA) is to review whether the requirement for small law firms to have compliance officers is “overkill”, it emerged today.
Co-operative Legal Services makes £5m loss in first half of 2014
Co-operative Legal Services (CLS) has announced an operating loss of £5.1m in the first half of 2014, a 70% increase on last year. However, there is no sign of the Co-operative Group selling it off.
Bar Mutual complaints referred to financial ombudsman
Two barristers caught up in high-profile disciplinary actions have referred complaints about lack of funding from the Bar Mutual indemnity fund to the Financial Ombudsman Service (FOS), it has emerged.
LSB supports fee-charging McKenzie Friends – with safeguards
The Legal Services Board said yesterday that it supports recognition of fee-charging McKenzie Friends as a “legitimate feature of the evolving legal services market”, but also called for safeguards.
Capita expands legal market presence with Eclipse acquisition
The march of outsourcing giant Capita plc into the legal market continued today with its acquisition of well-known case management software provider Eclipse Legal Systems.
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.
