Latest news
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.
Government rules out major reform to legal regulation
There is to be no fundamental rethink of the regulatory regime for the legal profession, the Ministry of Justice announced today. Minister Shailesh Vara also specifically ruled out any change to the list of reserved legal activities.
SRA signals fresh approach to regulation
The Solicitors Regulation Authority has signalled a fresh approach to its work, with a focus on simplifying the requirements it imposes and ensuring they are proportionate.
Blog
Why housing disrepair claims against councils have leapt by nearly 400%
Housing disrepair claims against councils have surged dramatically in recent years, with some areas reporting increases approaching a staggering 400%.
Client accounts: Opportunity, obligation and the risks in between
The profitability gap between well-run firms and the rest is not primarily a function of size, location or practice area – it is a function of financial management.
Motor finance – the FCA is more worried about banks than consumers
The Financial Conduct Authority’s motor finance redress scheme announced last week amounts to one of the largest ever consumer failures by the regulator.
