Latest news
SRA imposes controls on relationships within AA group after ABS award
The Solicitors Regulation Authority has imposed a series of conditions on AA Law that aim to control the relationship between the law firm and the breakdown giant’s insurance and claims-handling operations.
Mainland EU states “open to ABS invasion”
Protectionism among the mainland European bars is unlikely to stop determined UK-based alternative business structures from entering their markets, with various avenues open to them, according to new research.
MDPs “struggling” to make it through ABS licensing process
The process of approving alternative business structures seems to be weighted against multi-disciplinary practices and business services firms, it has been claimed. The Legal Services Board also expressed concern over the impact on ABS licensing of senior departures from the SRA.
Chambers face probe over quality of service and financial stability
Barristers are to get a taste of solicitors’ regulatory medicine from January with the launch of a new supervision scheme that will assess how effectively chambers and sole practitioners are managing potential risks such as ineffective governance and inadequate pupillage training.
London-based international network eyes employment law expansion
An innovative London-based business law network is targeting employment law in a bid to expand its global client base. Transatlantic Law International (TALI) has member firms in 80 countries around the world, with Reading firm Boyes Turner its English representative.
Saga gains ABS licence with claim to offer “law for the people, not for the lawyers”
Over-50s specialist Saga has today been granted an alternative business structure (ABS) licence to launch a joint venture law firm with fellow ABS Parabis Law. It aims to rebalance a market that “appears to be stacked in favour of the provider rather than the consumer”.
Would you like a will while I’m changing your tyre? AA Law receives ABS licence
The AA will next month launch its own law firm after being granted an alternative business structure licence by the Solicitors Regulation Authority. AA Law will start trading on 1 December as a joint venture between the motoring giant and national firm Lyons Davidson
CMC numbers slump as referral fee ban hits home
The number of claims management companies has fallen by nearly a quarter since the introduction of the referral fee ban and prohibition on offering inducements, new figures have shown.
Criminal solicitors press the button on Law Society SGM
The campaign by a group of criminal law solicitors for a vote of no confidence in the Law Society’s top officials stepped up a gear yesterday when a petition requisitioning an extraordinary general meeting (EGM) was handed in to Chancery Lane.
Future of mid-tier law firms under threat, says PwC
Many of the UK’s leading law firms need to “radically” restructure this businesses if they are to survive, PwC warned today. It also revealed that almost a quarter of the top 100 have reported material rule breaches to the Solicitors Regulation Authority this year.
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.
