Latest news
SRA urges target firms in acquisitions not to ignore due diligence
An SRA review of law firm acquisitions has highlighted failures and behaviours on the part of some target firms as a cause for concern.
SRA targets accountant’s reports and sole owners in shake-up
All law firm accountant’s reports will have to be submitted to the SRA in future, and sole owners will not generally be allowed to hold compliance roles too, under proposals published today.
Magic circle pay trainees less than US firms – and work them harder
The biggest City law firms are paying their trainees less than their US competitors but working them harder, according to new research showing how pay continues to spiral.
SRA shuts down four law firms in three days
The Solicitors Regulation Authority has shut down four law firms so far this week – two of them connected to the same man.
Government hints at more controls on RTA damages and costs
The government’s motor insurance taskforce reported yesterday with a hint that it may extend the whiplash tariff to other injuries and also review the small claims limit.
Don’t forget human support in the rush to digital, lawyers told
Both the structure and delivery of legal services – such as a lack of guidance and reactive communication – can cause difficulties for consumers, new research has found.
LSB: “Significant concerns” over viability of Legal Ombudsman
The Legal Services Board has expressed “significant concerns about the viability” of the Legal Ombudsman scheme as it struggles to get its caseload under control.
Law firms need to keep “meaningful offline routes” to services
Digitally excluded consumers need law firms to maintain “meaningful offline routes” to services because “digital transformation is not inherently progressive”, says a report for four legal regulators.
Vos eyes machine-made decisions for property disputes
Many property disputes “could be amenable to machine-made decision-making” in the future, the Master of the Rolls has predicted.
“Pre-budget inertia” costs listed law firm £3m
Listed law firm Gateley has estimated that “pre-budget transactional inertia” shrunk its revenue by around £3m, wiping out growth in its corporate department.
Blog
The importance of benchmarking reports – and lessons on profitability
Regional firms reported the largest revenue growth this year (12%), outpacing their City counterparts. Yet many are not converting that growth into profitability.
Fixed recoverable costs: Sacrificing justice for predictability?
The extended fixed recoverable costs regime is failing to achieve its stated objectives. Instead of promoting fairness and efficiency, the rules are creating anomalies that undermine justice.
Expectations keep rising, so prioritise client experience
Law firms are facing growing pressure to place greater focus on client experience or risk falling behind in an increasingly competitive legal market.
