Latest news
LeO on Leveson: law shows that statutory regulation does not harm independence
The press should look to the legal profession for reassurance that statutory underpinning of regulation does not impinge independence, the Chief Legal Ombudsman and the Law Society have said. There are also some important fundamental principles that should be behind any new regime.
“External capital can bring nothing to the party” in conveyancing
Alternative business structures and external capital will intensify competition but do nothing to stimulate demand in the conveyancing market, a leading Law Society representative has said. Meanwhile, lenders have warned that they expect CQS to be more stringent.
In brief: latest ABS, Co-op wins contract, top firms “don’t want” external cash, SRA race probe
Our regular round-up of important news nuggets includes the newest SRA-licensed ABS, an advice contract for the Co-op, a survey of top firms on how they are changing, a probe of SRA files to identify any racial discrimination, heavy fine for spam texters and much more.
Rocket Lawyer takes off with subscriptions starting at £40
US online legal document service Rocket Lawyer formally launches in the UK today, selling consumers and businesses annual packages starting at £40. Some 20 law firms have signed up to its ‘On Call’ panel, offering a 33% discount on their fees to users.
BSB outlines disappointment over disciplinary failures as Inns of Court turf war looms
The Bar Standards Board has expressed regret and disappointment at the problems uncovered in the Inns of Court’s administration of disciplinary tribunals – and opened up a turf war over the role of the new tribunals service that is being set up as a result.
Top judge warns against creeping influence of external investors over professional ethics
A Court of Appeal judge has issued a warning over the risk of external investment in law firms leading to “small, imperceptible steps” that could put business interests ahead of professional ethics.
Non-lawyer gains ABS licence for conveyancing practice
A conveyancing business set up by a technology specialist has become the latest alternative business structure. Peter Ambrose, the owner of The Partnership, based in Guildford, Surrey, described its licence as an “endorsement”.
SRA set to reject solicitor lobbying and change controversial referral rule
The Solicitors Regulation Authority is to push ahead with controversial changes to the rules on referrals to financial advisers that will no longer preclude them from choosing those tied to particular institutions, despite opposition from the Law Society, SIFA and others.
Younger consumers attracted by idea of legal services from a supermarket
Nearly seven out of ten people are attracted to the idea of finding legal services on the internet and a similar number of younger adults are likely to go to supermarket providers, according to a survey.
OFT targets legal websites in push to improve standards among price comparison services
The Office of Fair Trading has written to five legal price comparison websites to urge them to ensure they are providing clear information to consumers, after a review suggested that some sites could do more to improve trust amongst the public.
Blog
Amplifying reach through employee-driven thought leadership
Nine in 10 executives believe thought leadership is critical to building authority, yet only a quarter feel they have implemented a robust strategy.
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.
