Latest news
Law firm fined after building up £105k in residual client balances
A North London law firm that allowed £105,000 of residual client balances to build up over 13 years has been fined £14,000 by the Solicitors Regulation Authority.
Law firm consultant was worker, not employee, tribunal rules
A solicitor who worked as a consultant for a South London law firm was not an employee and so could not sue for unfair dismissal and breach of contract, an employment tribunal has ruled.
Law firm loses out on $3m after CA rejects bid to sever part of CFA
A law firm which charged its client nearly $3m under an unenforceable conditional fee agreement has to repay the money after failing to sever the offending clause, the Court of Appeal has ruled.
SDT clears City lawyer in Zoom “espionage” case
A senior City lawyer accused of misconduct which the public would view as “perhaps even tantamount to espionage” has been cleared by the Solicitors Disciplinary Tribunal.
PEXA agrees £31m Smoove deal in bid to grow conveyancing presence
PEXA, the Australian conveyancing technology giant that last year bought a UK law firm, is set to expand significantly after agreeing a £31m deal by buy listed company Smoove.
New legislation could introduce electronic wills “immediately”
A new Wills Act could permit electronic wills to be introduced “immediately”, rather than enabling the Lord Chancellor to introduce them in the future, the Law Commission says today.
LSB has “no role” in promoting use of technology
The Legal Services Board has “no role” in promoting the use of technology and there are “dangers in using regulatory levers to attempt to do so”, the Bar Council has warned.
New shelf facility for law firms “will speed up consolidation”
The pace of consolidation in the legal market could increase after the funder that owns Simpson Millar launched a facility for law firms that want to grow through acquisition.
Report predicts stagnation in demand for legal services
Demand for legal services will grow by only 2% in 2024, falling from 6% this year, researchers have predicted – but say this represents a decent outcome given political and economic headwinds.
SRA fines firm that failed to comply with undertaking
A law firm has been fined by the SRA for a “fundamental and prolonged failure” to comply with an undertaking it had given in a conveyancing transaction.
Blog
Amplifying reach through employee-driven thought leadership
Nine in 10 executives believe thought leadership is critical to building authority, yet only a quarter feel they have implemented a robust strategy.
Divorce escrow: asset sales before final settlement
When significant matrimonial assets are sold before a final financial order is agreed, holding the proceeds safely and neutrally can present real practical challenges.
AML lacks clarity – and standards are suffering
If firms are buckling under the pressure of AML regulations, subject to ever-increasing fines, then something is clearly not working as it should be.
