Latest news
Number of individuals and firms in dock over COLP and COFA failures rises to 800
The total number of firms and individuals in trouble with the Solicitors Regulation Authority over nominations for compliance officers has risen by a third in the past month to nearly 800, it has emerged.
Smithers wins Law Society election as high street dominates top jobs
Property lawyer Jonathan Smithers has won the five-way election to become the next deputy vice-president of the Law Society. Mr Smithers’ election means that from July the Law Society office-holders will all be high street solicitors.
Council for Licensed Conveyancers: regulatory ambitions stretch well beyond conveyancers
The Council for Licensed Conveyancers (CLC) has confirmed it will again attempt to extend the scope of services it regulates later this year and fired the opening shot of a campaign to issue licenses to individuals who are not conveyancers.
Quarter of conveyancers have experienced attempted fraud, while third pay referral fees
A quarter of conveyancing firms have experienced a client attempting to commit property-related fraud or money laundering, new research has revealed. This frequency suggests that many firms “might be over-optimistic” about the likelihood of encountering similar attempts in the future
Time nearly up for hourly billing as in-house lawyers ask firms to share risk
There is a widespread desire to move away from the hourly rate model, according to a survey of in-house lawyers that found them wanting their external law firms to share risk. Senior counsel at 80 international companies believe that law firms should provide ‘budget certainty’.
Do small law firms have a brand?
Brands are not just for big firms. Thayne Forbes argues that they can work for smaller practices as well, explaining how to create one, where the value lies, ensuring it appeals to your target market and the risks of adopting a marketing collective’s brand instead.
Solicitor and barrister join forces to set up construction ABS
A solicitor and a barrister have joined forces in a start-up alternative business structure (ABS) that will service construction sector clients and has ambitions to employ a range of professionals associated with the building industry.
Tax tribunal strikes down QC’s own avoidance scheme
HM Revenue & Customs (HMRC) has warned that having a complex tax avoidance scheme approved by a senior lawyer does not render it safe after a specialist tax QC who designed his own scheme saw it struck down.
Act now over ABSs or risk losing out, law firm warns insurance industry
A personal injury law firm has urged those in the insurance industry to wake up to the changes in the legal market and consider whether alternative business structures (ABSs) and other arrangements with lawyers offer them a lifeline.
Sheffield PI firm launches trio of ABSs as first accident management ABS secures broker deal
Personal injury firm Proddow Mackay has launched three alternative business structure (ABS) joint ventures in a bid to change strategy following the referral fee ban as Vamco, the first accident management company to become an ABS, has signed a deal with a large broker.
Blog
When AI becomes a line on the client’s bill
On 23 June, Legora changed how it charges. The platform announced that its most capable product was moving away from a flat per-seat licence fee to consumption-based pricing
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.
