Latest news
SRA goes ahead with fee caps for financial mis-selling claims
The SRA is going ahead with plans to introduce the same system of fee caps for law firms handling financial services mis-selling claims as the Financial Conduct Authority has for CMCs.
Minister urges conveyancers to increase pace of innovation
Conveyancers have “a central role” in realising a digital home buying and selling process but innovation needs to happen at a greater pace, the housing minister said last week.
Law firm administrator claimed £1,450 for office tea and coffee
A law firm administrator who paid herself £1,450 using pre-signed cheques, which she claimed was to refund money she had spent on office tea and coffee, has been barred from the profession.
Barrister suspended for “angry and violent” assault
A barrister has been suspended for six months after being convicted for what a tribunal described as “a sustained, angry and violent physical assault” which was “clearly the result of heavy drinking”.
Mishcon acquires group actions management business
London firm Mishcon de Reya has acquired a majority stake in Somos, a global group actions management business set up by two of the founding partners of PGMBM.
Wills group looks to buy “a dozen law firms a year” after PE boost
The Right Legal Group, a wills and probate specialist, has secured private equity funding to buy at least “a dozen law firms a year”, it has emerged.
Staff at employee-owned law firm receive £4,000 bonus
Employee-owned law firm Ison Harrison doubled the turnover of its commercial division last year, partly by advising other businesses on how to become employee-owned.
Two law firms fined thousands for AML non-compliance
Two law firms that have not had their anti-money laundering policies in order for several years have been fined by the Solicitors Regulation Authority.
MoJ launches call for evidence on whiplash tariff
The Ministry of Justice has launched a call for evidence on the whiplash tariff to inform the statutory review of the figures that it is required to carry out.
Firm held hundreds of residual balances for up to 28 years
A law firm that held nearly £600,000 in hundreds of residual client balances dating back 28 years has been fined by the Solicitors Regulation Authority.
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.
