Latest news
Investment for legal apps amid call for government support
Legal tech continues to attract investment, with money for a new wills app and the more established The Link App, but it must be able to benefit from a new coronavirus support package for tech companies.
National Accident Helpline furloughs staff as enquiries fall
NAHL – the listed company that owns National Accident Helpline – announced yesterday that it has furloughed a third of its staff amid a fall in personal injury enquiries.
Coronavirus update: AML warning, property help, and more
Criminals are exploiting the coronavirus crisis and law firms may be more susceptible because of the financial pressures they are under, regulators have warned as we round up other key developments.
“Monumental” breach of trust by solicitor turned crook
The breach of trust by a solicitor jailed for stealing nearly £100,000 from clients who were his friends has been described as “monumental” by the Solicitors Regulation Authority.
Charity offers £1m Covid-19 support to solicitors
SBA, the charity for solicitors, is launching a £1m hardship fund to aid those in financial difficulty following the outbreak of Covid-19. Meanwhile, its barrister equivalent has appealed for donations.
It comes as its barrister equivalent, the Barristers Benevolent Association (BBA), has launched an appeal for funds to support members of the Bar.
SRA: Legal Services Act regime “struggling to remain relevant”
The rate of change in the legal market makes it “increasingly difficult” for the regulatory framework laid down by the Legal Services Act to remain relevant, the Solicitors Regulation Authority has warned.
Firm’s “drinking culture” led solicitor to alcoholism
A solicitor who became an alcoholic after taking part in the drinking culture of a former firm has been fined by a tribunal after two drink-driving convictions.
Majority of firms have furloughed staff, survey finds
Most law firms have implemented a furloughing strategy, looking at reductions of up to 40% in headcount to survive the coronavirus crisis, while partners are reducing drawings too, according to a survey.
Tax schemes “discourage investment” in legal start-ups
Government schemes to help SME companies grow by offering investors tax relief exclude legal businesses and so constrict technological innovation in the market, it has been claimed.
LeO weighs using big data to aid decision-making
The Legal Ombudsman is exploring whether to use big data and machine learning technology to suggest outcomes and make recommendations in resolving complaints about lawyers.
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.
