Latest news
600 firms and individuals receive SRA ticking-off over compliance officer failures
More than 600 law firms and individuals have so far had their cards marked by the Solicitors Regulation Authority over failures associated with the nomination of compliance officers, it has emerged. A further 139 investigations remain live.
Indemnity insurer collapse leaves millions in unpaid claims against solicitors
Lemma, the failed Gibraltar-based solicitors’ indemnity insurer, has left run-off claims worth around £25m to be borne by the financial services industry in the wake of its collapse last year, it has emerged.
Direct Line outlines plan for ABS in partnership with Parabis
Direct Line Insurance Group plc is to partner with alternative business structure Parabis Law to launch a wholly owned law firm, it announced yesterday. The insurer will offer a range of injury and non-injury services to existing and new customers.
ABS to relinquish licence after acquisition
A specialist public sector law firm is set to relinquish its alternative business structure licence after being acquired. London-based TPP Law has been bought by Geldards as part of the regional law firm’s bid to grow a national public services practice.
ABSs face fines of up to 2.5% of turnover for serious misconduct
Alternative business structures with a turnover of more than £2m face fines of up to 2.5% of their turnover in cases of serious misconduct, under plans being considered by the Solicitors Regulation Authority.
Accountants become ABS to offer clients complete service
An accountancy firm for contractors, freelancers and self-employed professionals has launched its own law firm as the “missing piece in the client service jigsaw”. Brookson Ltd – based in Warrington – is only the second firm of accountants to become an ABS.
White-labellers unveil accident management deal and hire of Co-op pioneer
Alternative business structure Quindell Portfolio plc has signed a contract to provide white-labelled accident management services to Renault UK. Meanwhile, the white-label arm of Manchester law firm Pannone has announced a major hire.
SRA targets risk in streamlined law firm and ABS authorisation process
Alternative business structures, law firms and sole practitioners looking for authorisation by the Solicitors Regulation Authority will for the first time fill in the same form as the regulator steps up its risk-based approach.
Hudson: Law Society moving away from being a “noisy critic”
The Law Society is making a conscious effort to learn the lessons of last year’s Sound off for Justice campaign and be less of a “noisy critic” and focus more on lobbying the government, chief executive Des Hudson has said in the latest instalment of his exclusive interview with Legal Futures.
New entrants and ABSs “making inroads into market” through affinity deals
New entrants and alternative business structures have made their mark on the consumer legal services market by striking major affinity and partnership deals to win new business, according to an in-depth study of distribution relationships in place for legal services in the UK.
Blog
Which legal AI will still matter in 12 months?
Four years ago, when senior partners asked me which legal AI they should buy, I would have walked them through a vendor comparison. Now I tell them the question is wrong.
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.
