Latest news
Solicitors put on phishing alert over bogus SRA e-mail, as new cash converter scam also emerges
Solicitors have been warned about a new e-mail ‘phishing’ scam containing a computer virus that is targeted at the profession and purportedly sent by the SRA. Meanwhile, the regulator has reported a new scam involving cash converter type stores.
Impact of recession continues to dominate FDs’ views of the future for big firms
A survey of top-100 law firm finance directors has shown the consequences of the recent economic downturn continue to dominate predictions for the future, with regulatory and compliance work forecast to grow fastest and public sector work set to contract the most.
Court of Appeal puts law firm in the dock after being duped in mortgage fraud
The Court of Appeal has overturned a ruling which excused from liability a law firm which was duped into releasing £150,000 of mortgage funds. It found that the failings of the firm involved in departing from usual conveyancing practice were unreasonable.
Leading conveyancing firm buys fellow ABS
Countrywide Conveyancing Services – an alternative business structure (ABS) that is one of the country’s largest conveyancing outfits – has issued a statement of its intent to grow by buying another leading property law firm.
Firms urged to go beynd PEP and adopt quality and risk performance measures
Large law firms need to embrace new ways to measure firm and partner performance as traditional methods – such as profits per equity partner – “can be irrelevant, encourage inappropriate behaviours, discourage innovation and tend to be short term in focus”, a leading law firm consultant has advised.
HMRC to press ahead with LLP tax changes on 6 April but offers some concessions
Controversial changes to the taxation of LLPs will go ahead on 6 April, HM Revenue & Customs announced late last week, but has made some small concessions in response to the concerns of lawyers and others – including giving more time to contribute capital.
CLC targets wider brief as property sector regulator
The Council for Licensed Conveyancers wants the power to regulate lawyers other than licensed conveyancers, as part of a strategy targeted at expanding its role within the property sector.
Lender panel data scheme heads for launch despite solicitors’ worries
A privately run portal that will centralise conveyancing panel member firms’ information on behalf of participating mortgage lenders, is gearing up for launch amid controversy fuelled by Law Society reservations about the scheme.
LSB and Law Society on new collision course over SRA appointments
The Legal Services Board is heading for another confrontation with the Law Society after proposing to take away its responsibility for appointing the chairman and board of the Solicitors Regulation Authority.
LSB to impose controversial lay chair requirement on regulators
The frontline regulators will be required to have lay chairs in future after the Legal Services Board (LSB) pressed ahead with its controversial change to the internal governance rules.
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.
