Latest news
SRA aims to ease the path for MDPs
Non-reserved legal activities within multi-disciplinary alternative business structures should be taken out of regulation by the Solicitors Regulation Authority, it proposed yesterday.
Another unrated insurer “heading for liquidation”, says SRA – as it rejects ban
Another unrated indemnity insurer is “likely to be put into liquidation”, the Solicitors Regulation Authority (SRA) has warned. The news comes as the SRA announced that it will not introduce a ban on unrated insurers.
Now Quindell targets US listing as well
Alternative business structure Quindell’s bullish response to recent criticism has extended to the company now exploring the possibility of a dual listing in the US. However, Quindell’s share price has still to recover much of the ground lost in the last fortnight.
CLC “disappointed” with ministers on future of regulation
The Council for Licensed Conveyancers has become the first body to express disappointment with the Ministry of Justice’s announcement last week that it would not be making any major changes to the framework of legal regulation.
Specialist ABS secures £150,000 from regional growth fund
The North East Growth Fund (NEGF) is investing £150,000 in one of the country’s most specialised ABSs to pay for systems upgrades and new staff training provision.
Sole practices responsible for 45% of claims on compensation fund
Sole practices are responsible for 45% of the latest claims made on the solicitors’ compensation fund, despite making up only around a third of firms at the time, research for the Solicitors Regulation Authority has found.
Optima Legal joins Capita empire after ABS award
Outsourcing giant Capita can complete its purchase of Optima Legal and Cost Advocates after the SRA today granted Optima an alternative business structure license.
Consumers won’t pay for barristers, predicts Slater & Gordon chief
Consumer demand for lower costs means the divide between solicitors and barristers will not be sustainable, the managing director of Slater & Gordon has predicted. Andrew Grech also told sceptics of his firm’s publicly listed status that business structures do not protect ethics.
Solicitor numbers fall – for the first time in 20 years
The number of practicing and non-practicing solicitors has fallen – for the first time in more than 20 years. Meanwhile, the decline in the number of law firms continued, according to new Law Society statistics.
Local authority ABSs need “clear rationale”
Local authorities must have a “really clear rationale” before setting up ABSs to generate extra income, a leading public services lawyer has warned. Potential problems included conflicts of interest, confidentiality and indemnity insurance.
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.
