Latest news
Share payout for staff as national firm takes private equity cash
National insurance and commercial law firm HF has become the latest to take private equity investment, with all staff to receive payouts due its existing share scheme.
SRA opens dozens of investigations into volume litigation firms
The Solicitors Regulation Authority has opened dozens of investigations into law firms in relation to their conduct of volume litigation. Between them, they handle more than 150,000 claims.
CAT finds against consumers in first opt-out action to reach trial
The first opt-out collective action decided by the Competition Appeal Tribunal yesterday went against the claimant acting on behalf of 3.8m customers of communications giant BT.
SRA puts restrictions on another ex-Axiom Ince employee
The Solicitors Regulation Authority has banned a third former employee of Axiom Ince from working in the profession in future without its permission due to “serious” misconduct.
Key rulings and FCA announcement keep motor finance lawyers busy
Law firms lining up claims for motor finance mis-selling have had a busy week, with significant court rulings and a Financial Conduct Authority announcement.
Divorces wrongly allowed to proceed due to courts’ IT error “not void”
Divorce applications submitted before they should have been and wrongly allowed to proceed due to an error in the courts’ IT system are voidable – but not void, the High Court has ruled.
CJEU: Member states can block external investment in law firms
EU states may prohibit external investment in law firms because of the need to protect lawyers’ independence, the Court of Justice of the European Union has ruled.
High Court refers barrister to BSB for “abusive” judicial review
The High Court has referred a barrister to the Bar Standards Board for launching a judicial review which was “abusive and bound to fail” on behalf of a client facing extradition.
SRA issues highest fine to date amidst AML breaches blitz
The SRA has issued the highest fine since the limit went up to £25,000 among 14 handed out in recent weeks for breaches of the anti-money laundering rules.
SRA warns law firms about misleading use of ‘no win, no fee’
Law firms need to be careful in marketing their services as ‘no win, no fee’, and in how they attract clients, especially in high-volume claims work, the SRA told solicitors today.
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.
