Latest news
Two firms rebuked for residual balances as charity launches campaign
Two law firms that between them retained £425,000 of client money for many years have been rebuked as charity Support Through Court called on solicitors to donate small residual balances.
LSB chair steps down less than halfway through term
The chair of the Legal Services Board, Alan Kershaw, has stood down from the role less than halfway through his term, citing personal considerations.
Top judge urges compulsory adjudication for costs disputes
Costs disputes worth more than £100,000 should be subject to compulsory adjudication, the judge who leads on costs issues in the Court of Appeal has said.
SRA moves closer to SSB Law prosecutions
The Solicitors Regulation Authority has completed its investigation into the collapse of SSB Law and issued disciplinary notices to “a number of individuals”.
“Time to review” selection and return to practice of salaried judges
A report for the Ministry of Justice has called for a review of the selection process used by the Judicial Appointments Commission for salaried judges.
ABS expansion as accountants start to offer legal services in the US
Multi-disciplinary practices are becoming a reality in the US after KPMG was granted an ABS licence and another accountancy firm announced plans to merge with a law firm.
Land Registry system will reject applications with “simple” errors
HM Land Registry is to up efforts to reduce the number of requisitions it has to send to conveyancers by automatically checking for “simple errors” in applications.
Paul Philip to retire as SRA chief executive
Paul Philip is to retire from the Solicitors Regulation Authority towards the end of 2025 after nearly 12 years as chief executive, it announced this morning.
Private equity invests £1.2bn in the law in just five years
Private equity has invested nearly £1.2bn into law firms over the last five years, with a record £534m coming last year, according to figures published today.
LSB: Litigation funding should be regulated by FCA
There should be mandatory regulation of the litigation funding industry by the Financial Conduct Authority, the director of regulation and policy at the Legal Services Board said yesterday.
Blog
Accountability has to live within governance, not with one person
The assumption has long been that a COLP or COFA is personally exposed to the consequences of anti-money laundering breaches.
The SRA’s client money reforms: good intentions, questionable execution
On the face of it, the SRA’s plans to tighten protections around client money sounds sensible. The detail, as ever, tells a more complicated story.
Recruitment, retention and reward in the legal accounts world
Understanding the legal finance market is important – not just for those actively involved in it day-to-day but also for leaders within law firms.
