Latest news
Being a solicitor or barrister may soon not be enough: LSB eyes activity based regulation
The Legal Services Board has begun work on moving towards regulating lawyers based on the work they do, rather than on their professional title, Legal Futures can reveal. However, it acknowledged that there will be huge historical and cultural barriers to overcome.
Whatever happened to the ProcureCo?
Remember the ProcureCo? Most have forgotten this corporate bolt-on to chambers, little more than two years after it was launched. We asked the Bar Council what happened to its big idea.
Litigation funders left in limbo over whether ABS status will give them costs protection
Third-party litigation funders thinking of investing in law firms to avoid liability for adverse costs will have to try their luck in front of the court after an important report on contingency fees refused to make a recommendation on whether this should be possible.
Forget the gold rush – it’s the ABS rush, with three more granted licences
The Solicitors Regulation Authority should develop a fast track for legal disciplinary practices seeking approval to operate as alternative business structures, according to the largest of three firms granted their ABS licences yesterday.
Banks warn LSB off seeking to regulate them for will-writing and estate administration
It is hard to see which of the frontline regulators would regulate banks if will-writing and estate administration become reserved legal activities, the British Bankers Association has said. It also said FSA regulation covered what the Legal Services Board was seeking to do.
Leading personal injury lawyer granted ABS licence as he eyes run-up to Jackson
One of the country’s best-known personal injury lawyers has formed the latest alternative business structure as he prepares for the introduction of the Jackson reforms. Initially the move is to bring an accountant into partnership.
Financial services change “will spark massive rise in claims against solicitors”, SRA warned
Scrapping the ban on solicitors referring clients to tied financial advisers would “make them prey to every tied or multi-tied product salesperson in the land”, leading to massive claims on the compensation fund and negligence actions, the SRA has been warned.
Hundreds of firms fail to meet COLP/COFA nomination deadline
Around 750 law firms have failed to meet the 31 July deadline for nominating their compliance officers, the Solicitors Regulation Authority has reported. More than 93% of firms have completed or nearly completed the process.
Hundreds of clients already “seeking comfort” of the Eddie Stobart brand
The strength of the Eddie Stobart brand means that hundreds of people a week are already seeking advice from its new barrister service, the company’s group legal director has told this website.
SRA and BSB told to improve regulation of immigration lawyers or risk losing their powers
The Solicitors Regulation Authority and Bar Standards Board have been warned to improve the way they regulate immigration practitioners or risk enforcement action by the Legal Services Board – including the ultimate sanction of losing their ability to regulate the area at all.
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”.
