Latest news
SRA and Legal Services Board tussle over ABS application process
The Legal Services Board has been critical of the length of the time the Solicitors Regulation Authority has taken to approve alternative business structures, it has emerged.
Exclusive: QS launches R&D division, with new campaign and strategy imminent
QualitySolicitors is set to unveil a “new approach to delivering legal services”, Legal Futures can reveal. It comes as the company’s deal with WH Smith winds down and founder Craig Holt becomes president to focus on research and development.
1,300 law firms face emergency hunt for new indemnity insurer
The 1,300 law firms who have their professional indemnity insurance with Balva face the prospect of having four weeks to find new cover if the winding-up process the Latvian company started yesterday becomes an “insolvency event”, the Solicitors Regulation Authority has warned.
AG rejects call to cap government-instructed lawyers’ rates at legal aid levels
The Attorney General has rejected a call to cap the pay of lawyers instructed by the state at legal aid rates, arguing that the work of government is “vastly more varied and complex than that for individuals and corporate”.
SRA will consider “fast-tracking” ABS applications aimed at price competitive tendering
The Solicitors Regulation Authority (SRA) will consider fast-tracking alternative business structure (ABS) applicants who want to bid for the government’s proposed criminal legal aid contracts, Legal Futures can reveal.
Law Society kicks out committee members who failed to undergo E&D training
Eight members of Law Society committees have been kicked off for failing to undergo mandatory equality and diversity training, it has emerged. All members of boards and committees had a 30 April 2013 deadline to undergo the training.
Will-writers face jail as new code of practice scheme goes live
Members of the Institute of Professional Willwriters who fail to comply with its code of practice face fines or even imprisonment, as a new UK-wide scheme to strengthen self-regulation by setting standards for such codes goes live.
Consumers “still see lawyers as too expensive”, says research
Close to half of consumers of legal services are not satisfied with the value for money they received, with probate providing the least satisfaction and will writing the most, according to research. Just 57% considered they received value for money on average.
SDT rulings send out warning to law firms over relationships with debt recovery companies
Law firms must not allow arrangements with debt recovery companies to compromise their independence, the Solicitors Regulation Authority has warned, after two solicitors were fined heavily for allowing litigation to be carried out in their name.
Legal sector “ripe” for investment
The legal sector is “ripe” for investment and capital should not be an issue with so many investors looking to buy into the profession, lawyers in the north-west were told this week. They were urged to “seize the opportunity” to establish what their clients wanted.
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.
