Latest news
Wealth manager targets ABS licence after major hire
Sports and media stars will be among the wealthy clients of a new alternative business structure (ABS) which has already made a high-profile legal hire while awaiting its operating licence. BlackStar Legal is associated with the tax and wealth management giant, BlackStar Group.
Rocket Lawyer to open up website to all lawyers
All lawyers will be able to have their profiles on the Rocket Lawyer website for free from early next year, Legal Futures can reveal. Founder Charley Moore said the company’s mission is to make law more “affordable and simple” for UK businesses and consumers.
Law Society tells solicitors to ignore SRA’s financial services reform as IFAs threaten JR
The Solicitors Regulation Authority’s decision to change the rules on recommending financial advisers to clients has come under fire from opponents, with the Law Society taking “the unprecedented step” of urging the profession not to follow the new provisions and IFAs threatening judicial review.
LeO on Leveson: law shows that statutory regulation does not harm independence
The press should look to the legal profession for reassurance that statutory underpinning of regulation does not impinge independence, the Chief Legal Ombudsman and the Law Society have said. There are also some important fundamental principles that should be behind any new regime.
“External capital can bring nothing to the party” in conveyancing
Alternative business structures and external capital will intensify competition but do nothing to stimulate demand in the conveyancing market, a leading Law Society representative has said. Meanwhile, lenders have warned that they expect CQS to be more stringent.
In brief: latest ABS, Co-op wins contract, top firms “don’t want” external cash, SRA race probe
Our regular round-up of important news nuggets includes the newest SRA-licensed ABS, an advice contract for the Co-op, a survey of top firms on how they are changing, a probe of SRA files to identify any racial discrimination, heavy fine for spam texters and much more.
Rocket Lawyer takes off with subscriptions starting at £40
US online legal document service Rocket Lawyer formally launches in the UK today, selling consumers and businesses annual packages starting at £40. Some 20 law firms have signed up to its ‘On Call’ panel, offering a 33% discount on their fees to users.
BSB outlines disappointment over disciplinary failures as Inns of Court turf war looms
The Bar Standards Board has expressed regret and disappointment at the problems uncovered in the Inns of Court’s administration of disciplinary tribunals – and opened up a turf war over the role of the new tribunals service that is being set up as a result.
Top judge warns against creeping influence of external investors over professional ethics
A Court of Appeal judge has issued a warning over the risk of external investment in law firms leading to “small, imperceptible steps” that could put business interests ahead of professional ethics.
Non-lawyer gains ABS licence for conveyancing practice
A conveyancing business set up by a technology specialist has become the latest alternative business structure. Peter Ambrose, the owner of The Partnership, based in Guildford, Surrey, described its licence as an “endorsement”.
Blog
The SRA needs to admit it got it wrong about SLAPPs
The High Court judgment in Ashley Hurst v SRA in January raises serious questions about the regulator’s approach to allegations of SLAPP-like behaviour.
Why menopause support belongs on every law firm’s agenda
Progression in the law slows significantly as women approach senior leadership. Most will be at the height of their careers around the average age menopause symptoms begin.
Law firms need to go beyond document checks
At the root of every failed compliance review is a familiar phrase: a calm assertion of “but we did a document check”.
