Latest news
Number of law firms without insurance continues to climb
The number of law firms that failed to find professional indemnity insurance by 1 October has continued to climb, Legal Futures can report. It has also emerged that law firms are responding slowly to the next deadline facing them – practising certificate renewal by 31 October.
Life-coaching ABS cooperative targets growth
A Leicester cooperative law firm that offers life coaching in addition to legal services, has obtained an alternative business structure (ABS) licence in order to develop its training arm. Kinetic Law Services Limited is the 199th ABS approved by the SRA.
The end of first ABS failure nears
The end of the first alternative business structure failure moved a step closer today after In-Deed Online plc announced plans for a reverse takeover by an e-learning company. AIM-listed In-Deed was the first listed company to buy a law firm.
Plant hits out at City law firms over trainee recruitment
The ex-City lawyer chairman of the Solicitors Regulation Authority has questioned the recruitment methods of City law firms in making university students decide to become commercial lawyers so early on in their legal careers.
LeO expansion could create “muddle” for consumers, will writers warn
The Legal Ombudsman’s plan to widen its jurisdiction will cause a “muddle”, the Institute of Professional Willwriters has warned, revealing that other ADR providers had indicated an intention to move into the sector themselves.
ABS unveils acquisition strategy
Alternative business structure MTA Solicitors is bidding to grow its national network by acquiring firms and attaching them to its centralised support and resource infrastructure. It comes as another acquisitive practice has rewarded staff with a shorter working week.
SRA issues referral fee warning notice to PI firms
The Solicitors Regulation Authority has issued its first warning notice over the way personal injury firms are dealing with the referral fee ban. It highlights concerns that some solicitors are so busy ensuring they do not breach the ban that they are failing to consider their wider professional duties.
Lack of diversity should raise flag about firms, LSB tells regulators
Legal regulators should in future rate the risk that firms present to the public on the basis of the diversity of their workforce, and focus supervision on those with the worst records, according to a report.
Barrister-led firm becomes first dedicated tax ABS
A multi-disciplinary tax planning firm with a barrister as its only lawyer, has entered into regulation with the Solicitors Regulation Authority in order to offer clients tax law advice within an alternative business structure.
Revealed: SRA launches review of COFA role
The Solicitors Regulation Authority has begun a review of the role of compliance officers for finance and administration, less than a year since they took up their posts. Meanwhile, it has expressed concern about the lack of self-reporting by firms.
Blog
Supreme Court redraws line between member and employee in LLPs
For anyone advising professional services firms on LLP structuring, and of course for those in LLPs themselves, last week’s Supreme Court ruling is an essential read.
Charting a new course for publicly funded legal services
The current Legal Aid Agency model is inherently flawed and it goes beyond mere data breaches – it cannot innovatively respond to increasing challenges.
Preparing people for the pace of technological change
While technology often dominates the conversation, I believe the most important challenge facing law firms is not adopting new tools – it is preparing people to adapt alongside them.
