Latest news
Forget the gold rush – it’s the ABS rush, with three more granted licences
The Solicitors Regulation Authority should develop a fast track for legal disciplinary practices seeking approval to operate as alternative business structures, according to the largest of three firms granted their ABS licences yesterday.
Banks warn LSB off seeking to regulate them for will-writing and estate administration
It is hard to see which of the frontline regulators would regulate banks if will-writing and estate administration become reserved legal activities, the British Bankers Association has said. It also said FSA regulation covered what the Legal Services Board was seeking to do.
Leading personal injury lawyer granted ABS licence as he eyes run-up to Jackson
One of the country’s best-known personal injury lawyers has formed the latest alternative business structure as he prepares for the introduction of the Jackson reforms. Initially the move is to bring an accountant into partnership.
Financial services change “will spark massive rise in claims against solicitors”, SRA warned
Scrapping the ban on solicitors referring clients to tied financial advisers would “make them prey to every tied or multi-tied product salesperson in the land”, leading to massive claims on the compensation fund and negligence actions, the SRA has been warned.
Hundreds of firms fail to meet COLP/COFA nomination deadline
Around 750 law firms have failed to meet the 31 July deadline for nominating their compliance officers, the Solicitors Regulation Authority has reported. More than 93% of firms have completed or nearly completed the process.
Hundreds of clients already “seeking comfort” of the Eddie Stobart brand
The strength of the Eddie Stobart brand means that hundreds of people a week are already seeking advice from its new barrister service, the company’s group legal director has told this website.
SRA and BSB told to improve regulation of immigration lawyers or risk losing their powers
The Solicitors Regulation Authority and Bar Standards Board have been warned to improve the way they regulate immigration practitioners or risk enforcement action by the Legal Services Board – including the ultimate sanction of losing their ability to regulate the area at all.
At last – standard contractual terms between barristers and solicitors clear final hurdle
Standard contractual terms between solicitors and barristers are set to become a reality at long last after the Legal Services Board approved controversial changes to the cab-rank rule that will underpin them – albeit with some reluctance.
Confidential SRA research uncovers non-compliance and bad attitudes over complaints
There is a “small but material rate of non-compliance” by solicitors with their complaints-handling requirements – and some bad attitudes towards complaints – confidential research by the Solictors Regulation Authority has found.
Here come the Americans as Rocket Lawyer starts recruiting law firms
Rocket Lawyer, the Google-Ventures backed online legal document service, has today launched its On Call programme into the UK, the first step towards the much-anticipated website going live to the public at the end of the year, Legal Futures can report.
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.
