Latest news
Self-employed barristers’ earnings put at £2bn a year
Self-employed barristers collectively earn around £2bn a year, more than doctors in private practice, according to Bar Council estimates. In a paper issued yesterday, the Bar Council said “the Bar overall continues to be a successful profession in terms of overall earnings”.
Clayden: level of fixed costs will determine insurers’ appetite for ABSs
Insurers will be forced to consider alternative business structures (ABSs) if the government is not sufficiently “bold” in reducing the level of legal fees for RTA portal cases, a leading defendant lawyer has warned.
Solicitors putting barristers under increasing pressure to pay referral fees, Bar Council warns
Solicitors are putting barristers under “increasing pressure” to enter into referral fee agreements, to the detriment of clients, the public interest and the junior Bar, the Bar Council has claimed. It also warned that providing junior barristers at discounted rates can amount to a referral fee.
Majority of top firms eyeing growth through merger as ABSs appear on the radar
Nearly 60% of top 100 law firms view mergers and acquisitions as a leading growth opportunity in a challenging legal services market – with the prospect of alternative business structures starting to snap at their heels, according to a prestigious benchmarking survey.
Online pay-as-you-go legal advice service bids to crowd-source £1.5m funding
An attempt to ‘crowd fund’ £1.5m for the launch of what is claimed to be the world’s first live online pay-as-you-go legal advice service will begin this week. Quegal will charge users 60p a minute to receive advice from junior solicitors and paralegals.
High Court rejects appeal of solicitor struck off in his absence
A solicitor who was struck off in his absence has had his challenge to the decision thrown out by the High Court. Mr Justice Foskett warned that those who fail to attend Solicitors Disciplinary Tribunal hearings do so at their own peril.
Repeat clients are main source of solicitors’ work, says major survey
The importance of law firms marketing to their existing client base has come through strongly from major new Law Society research that shows repeat clients are by far solicitors’ biggest source of work.
Council fined £120,000 after solicitor’s wayward e-mails breach data protection law
Stoke-on-Trent City Council has been fined £120,000 after an in-house solicitor sent highly sensitive information about a child protection case to the wrong e-mail address, rather than the barrister for whom it was intended.
Litigation funder eyes ABS as way to finance law firms’ contingency fee work
A litigation funder with £40m a year to invest is considering using alternative business structures to make funds available to law firms, according to its chief executive. They have to be prepared to work under damages-based agreements (contingency fees), however.
Be bold and ignore the vested interests, LETR told
There is a once-in-a-generation opportunity to produce a “bold blueprint” for change in legal education and training, but “vested interests” are striving to water it down, the Legal Services Consumer Panel has cautioned.
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.
