Latest news
News in brief: online directory launch, Scottish LPO bid, cash-flow squeeze, and more
Our regular round-up of news you may have missed includes an international online directory, Scotland looking for a piece of the LPO market, worsening cash-flow at law firms, a free probate offer, and much more besides.
SRA places restrictions on Parabis’s offshore operations
The Solicitors Regulation Authority has placed controls around the Parabis Group’s offshore operation in South Africa, it has emerged. Parabis received its alternative business structure licence yesterday.
LSB warns regulators over referral fee ban as government unveils CMC crackdown
The Legal Services Board has warned regulators not to go further than the legislative requirements for the impending ban on referral fees in personal injury, calling for “a liberal approach” that does not prevent alternative business structures effectively circumventing it.
First private equity backed ABS receives licence
Duke Street today became the first private equity firm to own part of a law firm after the Parabis Group received its alternative business structure licence, the twentieth so far issued by the Solicitors Regulation Authority.
Powers for Legal Services Board to raid regulators and seize documents under fire
Government plans to give the Legal Services Board powers to raid the premises of frontline regulators and seize documents have been strongly criticised for their lack of safeguards and inadequate protection of legal professional privilege.
Sub-standard legal advice and comparison websites in spotlight after Davies reappointment
Elisabeth Davies was yesterday reappointed as chair of the Legal Services Consumer Panel. The decision to keep Ms Davies in the role will keep the panel’s wide-ranging workplan on track.
Legal executives’ regulator sets sights on new practice rights and ABS licensing
The process of enabling chartered legal executives to set up their own practices has begun with their regulator looking for the power to award them rights to conduct litigation, conveyancing and probate without needing the supervision of a solicitor.
Irwin Mitchell set for external capital after receiving ABS licence
Irwin Mitchell has today become the largest law firm to become an alternative business structure and also received the first ‘multiple’ licences. In April 2011 the firm became the first to state its intention to seek external capital.
Ombudsman: complaints publication will be “imperfect” but it is not naming and shaming
The publication of complaints data will be “imperfect”, the Chief Legal Ombudsman has admitted, but it is better than publishing nothing at all and is emphatically not about naming and shaming lawyers.
Report: indemnity insurance market softening this year but underwriters wary of non-lawyer owners
There are signs of a softer professional indemnity insurance market for some law firms this year, but underwriters are looking to handle alternative business structures with care, a new report has claimed.
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”.
