Latest news
Lenders hit out at SRA over compensation
The country’s mortgage lenders have hit out at the Solicitors Regulation Authority for not being transparent in the way it runs its compensation fund, leading to a perception that lenders are being made to carry the can for solicitors’ wrongdoing.
Solicitors join forces to purchase more legal practices, WIP books and cases
Neil Hudgell Solicitors, the law firm which two years ago launched the website ‘Webuyanyfiles’ targeted at personal injury firms looking to exit the market, has formed a joint venture with national practice Simpson Millar to expand the offering.
Consumers given option to turn to Your Legal Friend
Liverpool law firm Camps has launched a new consumer brand – Your Legal Friend – as part of its “multi-channel” response to the personal injury market. It said the launch follows research to ensure the brand reflects both what the company stands for and delivers what its customers most value.
Brilliant Law closes multi-million pound funding round
Brilliant Law, the alternative business structure that was set up with investment from BetFair founder Bert Black, has just received a further seven-figure cash injection. One of the new investors, lawyer turned investment banker Jag Mundi, has also joined as a non-executive director.
Barristers quit BSB prosecutors panel in QASA protest
A number of barristers have resigned from the Bar Standards Board’s prosecutor panel in protest at the imminent launch of the Quality Assurance Scheme for Advocates. They include a group of seven barristers from 18 Red Lion Court.
Legal Ombudsman to work on allowing complaints from non-clients
The Legal Ombudsman is to begin work on what types of complaints it should accept from non-clients amid reports of lawyers harassing third parties over alleged debts, violating their privacy and doling out abusive treatment in court.
Scots lawyers decide they don’t want separate representation after all
Scottish conveyancers have voted against the introduction of separate representation for borrowers and lenders – having initially called for it. At an SGM of the Law Society of Scotland yesterday, 847 were against a rule change to the conflict of interest rules while 671 were in favour.
Legal aid cuts force leading civil liberties chambers to dissolve
Tooks Chambers – the civil liberties set led by campaigning QC Michael Mansfield – has today announced that it has begun the process of dissolution as a “direct result of the government’s policies on legal aid”.
Revealed: the law firms that still don’t have a COLP or COFA in place
More than a year on from the deadline for law firms to nominate their compliance officers for legal practice and for finance and administration, and 40 practices still remain without anyone in place, the Solicitors Regulation Authority has revealed.
From the naive to the desperate: SRA reveals anatomy of failing law firms
Misleading funders, inflating work-in-progress valuations and shortages in client account are among the common features of financially unstable firms that are currently under investigation by the Solicitors Regulation Authority, 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.
