Latest news
Strong results for the UK’s first ABS
The country’s first alternative business structure and largest conveyancing business revealed strong annual results yesterday. Premier Property Lawyers – which became an ABS on 6 October 2011 – is part of My Home Move, which also has a panel management operation.
Capita gears up for further expansion after Optima acquisition
Capita, the outsourcing giant that yesterday announced plans to buy a law firm, remains on the acquisition trail and is also looking for a top-20 law firm to partner with, Legal Futures can report.
BSB presses ahead with QASA preparations despite judicial review
The Bar Standards Board has pledged to continue with preparations for the Quality Assurance Scheme for Advocates notwithstanding the judicial review against the scheme launched last week. Meanwhile, it has been criticised for its “mean” position over the costs of the JR.
Call to restrict scope of PII cover as 1,000 firms face risk of closure
The risk of as many as 1,000 law firms having to shut down because they cannot find professional indemnity insurance means it is time to narrow the scope of the cover solicitors are required to have, a leading adviser has argued.
Outsourcing giant enters market with Optima Legal acquisition
Outsourcing giant Capita plc has reached a conditional agreement to acquire Optima Legal Services pending the grant of an alternative business structure licence.
“Productive and innovative” ABSs beginning to make their mark, says LSB
New business structures are more productive and innovative than traditional law firms, Legal Services Board research has found. It also said that alternative business structures are “starting to have an impact” on some parts of the market and collectively have a 5% market share.
Solicitors Disciplinary Tribunal: increase in dishonesty findings and strike-offs
The number of solicitors found to be dishonest and struck off rose in the past year, even though there has been a sharp fall in the number of applications made to the Solicitors Disciplinary Tribunal, according to its annual report.
SRA refuses to licence ABSs aiming to circumvent referral fee ban
The Solicitors Regulation Authority has rejected potential alternative business structures on the basis that the aim was really to continue illegal referral fee arrangements, it emerged this week.
ASA rejects complaints from unhappy client unable to post negative review on ratings website
The Advertising Standards Authority has rejected complaints that positive online reviews for a law firm were fake and that the website hosting them would not accept negative reviews. This was the first complaint of its kind involving a law firm.
Consumers fear stepping into the unknown when using lawyers, says SRA
Not knowing what to expect when using a lawyer is the key problem faced by many consumers, research by the Solicitors Regulation Authority has found. The SRA, with other legal regulators, is set to tackle this in part through a new consumer-facing website, called Legal Choices.
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.
