Latest news
Horwich Farrelly becomes latest north-west ABS to head to London
Manchester-headquartered alternative business structure Horwich Farrelly has headed south to launch an office in the City of London. The specialist insurance litigation law firm estimates that the new office will generate up to £2m of income in its first year.
Only fifth of businesses use external lawyers to cope with consumer rights law
The cost to businesses seeking legal advice to comply with current piecemeal consumer rights legislation is as high as £2,500 a year – but they should see big savings as a result of forthcoming reform, the government has claimed.
Thirty of top 200 on SRA list of financially unstable firms
Around 30 of the top 200 law firms in England and Wales are under intensive supervision from the Solicitors Regulation Authority (SRA) because of fears about their financial stability, it emerged yesterday.
Legal Ombudsman chairman calls for major expansion in jurisdiction
All consumers of legal services – using a broad definition that includes “linked professional services and advice that has a legal dimension” – should have access to the Legal Ombudsman, its chairman said today.
Survey: conveyancers more worried by lenders than ABSs
Lender panels, rather than alternative business structures (ABSs), are the main threat to conveyancing businesses, new research has found. Interest among conveyancers in becoming an ABS also appears to be falling.
Exclusive: not-for-profit venture capitalists poised to invest in law firm start-up
A not-for-profit venture capital business that promotes innovation is set to invest in a start-up law firm targeting the technology sector, Legal Futures can reveal. The unusually named Atypical Law Firm will this week submit its ABS application.
LSB stands its ground against critics and warns: you can’t turn back the clock
The Legal Services Board has hit back at continuing criticism of its role and work by insisting that it has a legal duty to take positive action – and that turning the clock back to a pre-Legal Services Act world is not an option.
Law firm ‘broker’ launches with call to “overpaying” in-house counsel
A new law firm ‘broker’ is targeting companies that believe they are overpaying for legal services. The Legal Broker argues that even the most sophisticated clients are having trouble finding value for money and good service from their external lawyers.
LegalForce outlines plans for UK expansion
LegalForce, the US company that plans to build a legal services brand for innovators and start-ups based around a retail space, has stepped up its bid to build a UK network by appealing directly to sole practitioners and small law firms to apply to join.
Chambers becomes first ABS licensed by the SRA without a solicitor
A London chambers has become the first alternative business structure licensed by the Solicitors Regulation Authority that does not have any solicitors. Richmond Chambers LLP is a niche immigration set that focuses on direct access work.
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.
