Latest news
Multi-disciplinary ABS eyes law firm acquisitions
A blue-chip wealth management company has set up an alternative business structure (ABS) to add legal to its mix of services, and is also eyeing up potential acquisitions to boost its client base.
Referral fee ban “cutting nuisance calls” as government targets further CMC crackdown
The referral fee ban has reduced the number of nuisance calls made to potential personal injury claimants, the government has claimed. It is also looking to increase its powers over claims management companies yet further so that it can fine them up to 20% of their turnover.
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.
Blog
Small steps, big impact: how SME law firms are making legal tech work
For SME law firms, the priority is turning the potential of tech into measurable impact: success is driven not just by the technology, but by how firms approach planning and implementation.
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.
