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Private equity has invested nearly £1.2bn into law firms over the last five years, with a record £534m coming last year, according to figures published today.

There should be mandatory regulation of the litigation funding industry by the Financial Conduct Authority, the director of regulation and policy at the Legal Services Board said yesterday.

Now is the time for the SRA to take “decisive steps” towards scrapping solicitors’ client accounts, the Legal Services Consumer Panel has said.

Listed law firm Keystone needs to deliver double-digital growth if it is to maintain a premium valuation, but it is unlikely to do so, its broker has said.

More than half of professional indemnity cases issued in the High Court over the past five years were against solicitors, according to new figures.

Two former partners of a law firm did not vary their 50/50 partnership after it was set up so that one would be in sole control, the High Court has ruled.

Business secretary Jonathan Reynolds has apologised for referring to himself as a solicitor but said it was not “a huge deal”, as Reform UK pledged to bring a private prosecution against him.

Three-quarters of salaried judges report symptoms of stress, while a third of circuit judges are under “high or extreme stress”, the latest Judicial Attitude Survey has found.

Well-known Leeds law firm Walker Morris discriminated against a senior partner by making him retire at the age of 63, an employment tribunal has ruled.

A law firm was negligent in failing to prepare for a three-day hearing or instruct counsel for it, a Family Court judge has ruled in making a wasted costs order.