Latest news
Crowd-funding investors queue up to back online legal advice service
An online legal service aimed at small businesses and “democratising the law” has almost completed its second round of ‘crowdfunding’, raising more than £100,000 in less than a month as it targets ambitious expansion.
ABS-owning insurers sign up to code on handling legal work for policyholders
Many of the big insurance companies that have set up alternative business structure (ABS) joint ventures have signed up to a new code of practice laying out how they can point policyholders who may have a personal injury claim towards their law firms.
From bad debts to bad mergers – SRA study pinpoints key features of firms in financial difficulty
A failure to pay debts – and the increasing willingness of creditors to pursue solicitors for their money – is the most common feature of law firms in financial difficulty, Solicitors Regulation Authority research has found.
Are judges and opposing parties targeting lawyers? Recent cases suggest they are
A string of recent cases indicate that judges may be increasingly tempted to remind solicitors of their duty to act impartially in litigation, in an era of alternative business structures (ABSs) where their loyalties might be tested, according to a leading criminal lawyer.
Slater & Gordon focuses on “consolidation” after acquisitions spree – but what about Simpson Millar?
Slater & Gordon is to concentrate on improving the performance of its UK operations, after an acquisitions spree that it claims has given it a 5% share of the claimant PI market. It remains unclear what progress is being made with the previously announced deal to buy Simpson Millar.
SRA: interventions due to dishonesty on the rise
The Solicitors Regulation Authority recorded a sharp rise in the number of interventions last year that involved suspected dishonesty, new figures have revealed. It also highlighted growing delays in cases going through the Solicitors Disciplinary Tribunal.
Accountants say ABS enables them to monitor quality of clients’ legal work
A central London firm of accountants has set up an alternative business structure (ABS) as a means of keeping control of legal work that it previously referred to third party law firms.
LSB calls for 50-fold increase in SRA fining power
A consultation on a fresh attempt by the Solicitors Regulation Authority to increase its powers to fine law firms has closed with familiar battle lines drawn, with the Legal Services Board backing the move and the Law Society opposing it.
ABSs “will contribute to the rise of legal services outsourcing”, new book predicts
Alternative business structures (ABSs) will create additional demand for legal services outsourcing (LSO) and could in time become LSO providers themselves, a new book has predicted.
City lawyers slam HMRC over approach to salaried partners in LLP tax reform
City lawyers have ratcheted up their attempt to limit the scope of legislation aimed at tax abuse by LLPs, with strong submissions to the House of Lords and HM Revenue & Customs.
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.
