Latest news
LeO bids to slash cost per case and ring-fence CMC complaints
The Legal Ombudsman has revised its target costs for resolving complaints downwards for the next financial year, which if achieved would be almost 20% lower than a year ago.
More chambers criticise legal aid deal as BSB consults on returning instructions
More chambers have come out in open criticism of the Criminal Bar Association (CBA) and Bar Council’s deal with the government over legal aid last week. Meanwhile, the BSB is consulting on whether a fee cut by the Legal Aid Agency should no longer automatically entitle a barrister to return instructions.
LSB fears ignorance over dramatic impact on law firms of consumer credit revolution
There is a “real risk” that law firms do not understand how impending changes to the consumer credit regime could have a serious effect on them – such as needing to be additionally regulated by the Financial Conduct Authority – the Legal Services Board has warned.
ABSs “have potential to challenge leading law firms”
The involvement of big brands like BT and KPMG is evidence that alternative business structures have the resources and expertise to encroach on the work done by larger law firms, a top banker has predicted.
Top firms turn backs on stock market listing and private equity cash
The UK’s top law firms have become increasingly sceptical about listing on the stock market or taking on private equity investment, according to new research.
Accusations fly as CBA deal shatters legal aid unity
Civil war broke out among criminal defence lawyers yesterday in the wake of a deal struck between the government and the Criminal Bar Association. Solicitors accused the Bar’s leadership of using “the unity of the profession to pursue self-interest”.
QASA challenge on its last legs
The legal challenge to the Quality Assurance Scheme for Advocates (QASA) is nearly at an end after the Court of Appeal refused permission to appeal the High Court decision that rejected it.
Here come the accountants, part 2: EY to enter legal market
The prospect of the ‘big four’ accountants challenging the City status quo moved up another notch today after EY hired a senior lawyer to build a “legal capability” in the UK.
Banks agree £60m funding facility to fuel “substantial” growth at Irwin Mitchell
Irwin Mitchell has signalled its intention to grow “substantially” in the coming years after securing a £60m four-year finance package with three major UK banks. The deal also includes a £30m ‘accordion’ facility for further finance if required for a big transaction.
Natwest survey: confidence and profits rise but firms must "spend more to make more"
Profits were up last year and confidence is buoyant for the coming year among small and medium-sized law firms, according to a major benchmarking survey. Nine out of 10 firms surveyed thought profits would increase during 2014.
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.
