Latest news
Liverpool firm becomes first family law ABS
A Liverpool-based practice has become the first specialist family law firm to become an alternative business structure. Tracey Miller Family Law will use its new status to allow business development manager Anthony Hool to take a minority stake in the firm.
LETR team floats radical reforms to “unfit” training regime
The system for training lawyers is not fit for purpose, the Legal Education and Training Review research team has suggested. The team of academics floated a series of ideas that in some instances would represent radical reform of the present regime.
Leading conveyancing firms gain ABS status
Two of the country’s best-known conveyancing practices have become alternative business structures, while an insolvency and litigation practice has also achieved ABS status.
Legal Ombudsman to accept complaints about claims management companies
Claims management companies (CMCs) face the prospect of having to provide financial compensation to unhappy customers after the government announced today that they are to come within the remit of the Legal Ombudsman.
SDT finally publishes first ever sanctions guidance
The Solicitors Disciplinary Tribunal last week published its first ever guidance on sanctions, nearly 18 months after the High Court expressed its surprise that such a document did not exist.
Income up sharply at pioneering ABSs
Two of the UK’s first alternative business structures – Slater & Gordon and Co-operative Legal Services – have reported strong increases in income, although profits at the Co-op have been hit by its expansion plans.
Stress pushing lawyers towards clinical depression and other mental illnesses, says survey
A fifth of lawyers who have so far responded to a survey on stress in the profession are currently suffering from clinical depression or another mental illness, it has emerged.
News in brief: online directory launch, Scottish LPO bid, cash-flow squeeze, and more
Our regular round-up of news you may have missed includes an international online directory, Scotland looking for a piece of the LPO market, worsening cash-flow at law firms, a free probate offer, and much more besides.
SRA places restrictions on Parabis’s offshore operations
The Solicitors Regulation Authority has placed controls around the Parabis Group’s offshore operation in South Africa, it has emerged. Parabis received its alternative business structure licence yesterday.
LSB warns regulators over referral fee ban as government unveils CMC crackdown
The Legal Services Board has warned regulators not to go further than the legislative requirements for the impending ban on referral fees in personal injury, calling for “a liberal approach” that does not prevent alternative business structures effectively circumventing it.
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.
