Latest news
SRA uncovers 205 more firms to probe over lack of compliance officers
The Solicitors Regulation Authority (SRA) is working its way through the hundreds of firms and individuals facing enforcement action over compliance officer failures – but has now found another 205 firms that require investigation.
Quindell boss enjoys massive pay rise
The man running alternative business structure Quindell Portfolio saw his pay more than double to nearly £900,000 last year, the company’s annual report has revealed. It has also put the full cost of Quindell’s purchase of three law firms last year at £45m.
Consumer panel calls for radical reform of financial protection arrangements
A single scheme joining up professional indemnity insurance and compensation funds across the whole legal services market – including unregulated providers – should be actively explored, the Legal Services Consumer Panel has recommended.
Referral scheme offers “lifeline” to PI solicitors
A scheme that offers solicitors a “lifeline” by enabling them to continue working with personal injury referrers was launched today by well-known legal IT firm Epoq. The company has created LegalGo, a free legal assistance plan.
SRA: plenty of firms breaching the referral fee ban
A significant number of businesses involved in the personal injury market have been acting in breach of the referral fee ban since it came in on 1 April, the chief executive of the Solicitors Regulation Authority warned yesterday.
Co-op distances itself from claim that good client service is “alien to solicitors”
The Co-operative Legal Services has disassociated itself from comments made by its sales and marketing director that putting consumers at the heart of what they do is “alien” to solicitors, after complaints by the Law Society.
Regulator goes public with names of CMCs under investigation
The fact that claims management companies are under investigation by their regulator has become a matter of public record after the Ministry of Justice launched a new transparency tool. The new section of the MoJ’s website also includes enforcement action that has been taken.
Law firm attached to new insurance business gains ABS licence
A new insurance business that will also offer wills, probate and family law services is set to go live after its law firm received an alternative business structure licence. It is the first insurance/law firm tie-up that does not involve personal injury claims.
SRA warns solicitors off ‘get rich quick’ SDLT and referral fee schemes
The Solicitors Regulation Authority has warned law firms under financial pressure against becoming involved in schemes that “manage” the ban on referral fees or promote “improper” ways to avoid stamp duty land tax.
MoJ sets legal services review in motion
The Ministry of Justice yesterday made public its plan for a new legal services review that aims to simplify the regulatory framework governing lawyers. The review will encompass “the full breadth of the legislative framework”.
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.
