Latest news
Solicitors and consumers split over widening ombudsman’s remit to unregulated providers
Solicitors and consumer representatives have come out on opposite sides of the Legal Ombudsman’s proposal to extend its remit to the estimated 130,000 unregulated legal services providers operating in England and Wales.
Barrister turned doctors’ regulator named as next SRA chief executive
Barrister Paul Philip has been appointed as the next chief executive of the Solicitors Regulation Authority. Mr Philip is presently deputy chief executive and chief operating officer of the General Medical Council, and will join the SRA on 1 February 2014.
From beds to bumps – top businessman takes stake in personal injury firm
A personal injury practice with offices in the north-west and midlands has become an alternative business structure (ABS) so that a top businessman can take a stake in the firm.
Law firm spin-off becomes ABS
A law firm spin-off which helps insolvency practitioners to process financial mis-selling claims against financial institutions, has been granted an alternative business structure (ABS) licence.
PayPal founder invests in internet start-up aimed at helping lawyers and clients collaborate
The co-founder of PayPal has invested in a start-up that aims to help clients find lawyers and then collaborate with them through an online platform – and is targeting the UK in the next few months – Legal Futures can reveal.
Number of smaller law firms on financial precipice soars
The number of small and medium-sized law firms in financial distress has soared to nearly a quarter of the profession, while one in eight has gone out of business in the last year, according to new figures.
Revealed: LSB ditches investigation into regulating 'general legal advice'
The Legal Services Board has ditched its investigation into whether giving ‘general legal advice’ should become a reserved legal activity – but hinted it may look to remove probate from the existing list.
Manchester firm ties up joint venture with insurer as law centres win ABS exemption extension
A Manchester law firm has launched a joint venture alternative business structure (ABS) with one of its major insurer clients. Meanwhile, the transitional exemption from ABS licensing currently afforded to not-for-profit organisations has been extended indefinitely.
Mayson publishes blueprint for reformed legal regulation framework
Leading market commentator Professor Stephen Mayson has indicated his support for a single legal services regulator as the best way to deliver a new regime in which all legal services are regulated to some degree, with only one regulator for each of a much-expanded list of reserved activities.
Revealed: LSB legal director opposed approval of QASA
The legal director of the Legal Services Board disagreed with its decision to approve the Quality Assurance Scheme for Advocates because he wanted to ensure that the impact on judicial independence had been fully considered, it has emerged.
Blog
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.
The power of participation for trainees and apprentices
It’s important as a trainee or an apprentice to get involved in the life of your firm – even under the pressure of discovering how to navigate professional life and now the demands of the SQE.
