Latest news
BSB wins argument over case for entity regulation
The Bar Standards Board narrowly defeated a motion proposed by a former Bar chairman that its plans for entity regulation are unhelpful to the justice system, in a debate held in London last week.
Here come the accountants – ICAEW launches ABS regulator bid
Around 100 firms of accountants are expected to become alternative business structures, the Institute of Chartered Accountants in England and Wales said today as it unveiled its draft application to become a regulator of legal work.
Referral fee ban will not catch solicitors’ collective marketing schemes, Djanogly affirms
Justice minister Jonathan Djanogly has affirmed the government’s belief that the ban on referral fees will not catch solicitors’ collective marketing schemes, despite continuing concerns that the legislation does exactly that.
Ten brokers and nine insurers sign up to Law Society’s prototype standard PII proposal form
Ten brokers and nine professional indemnity insurers have agreed to use the Law Society’s prototype standard application form. The eventual aim is to allow solicitors to fill out a single PII proposal form that will be accepted by all.
‘New generation’ comparison website receives investment backing for full launch
CompareLegalCosts.com, the ‘new generation’ comparison website that requires participating law firms and barristers to offer fixed fees, has announced a £500,000 investment in the full launch of the service next month.
County court advocacy specialists become latest ABS
A law firm that specialises in providing advocacy services in every county court across the country yesterday became the Solicitors Regulation Authority’s eighth alternative business structure.
Welsh government offers City law firms incentives to open back-office operations in Cardiff
Wales will today make its pitch as a new onshore venue where City law firms can cut their costs by locating back-office operations. Cardiff recently became the UK’s first and only dedicated financial and professional services enterprise zone.
Quindell confirms binding agreement to buy Liverpool law firm
AIM-listed Quindell Portfolio has now signed a binding agreement to buy Liverpool law firm Silverbeck Rymer, subject to receiving its alternative business structure licence and Financial Services Authority approval, it announced today.
Growing interest in outside capital among smaller firms but their planning is lacking, survey warns
A growing number of small and mid-sized law firms are looking at raising external capital, but many need to address failings in basic business planning first, new research has found. It also identified £20m as the turnover point when a law firm turns into a real business.
Tribunal suspends first solicitor called to account for breaching SRA settlement agreement
The Solicitors Disciplinary Tribunal has for the first time sanctioned a solicitor who breached a regulatory settlement agreement that ended a Solicitors Regulation Authority investigation into him.
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.
