Latest news
Keystone listing will enable “smooth exit” for private equity investor
The public listing of Keystone Law will provide its private equity investor with a “smooth exit” once Root Capital chooses to move on, the firm’s chief executive has told Legal Futures. James Knight was speaking in the wake of yesterday’s news that the ‘dispersed’ or ‘virtual’ firm will list on AIM at the end of the month.
Rebuke for leading legal aid firm that decided theft of client money was not ‘material breach’ of SRA rules
Leading legal aid law firm Duncan Lewis has been rebuked by the Solicitors Regulation Authority for deciding that the theft of client money was not a material breach that had to be reported to the regulator. Instead, it considered the misconduct to be an “internal matter”.
Jailed solicitor ordered to repay £2m crime proceeds, while “narcissistic” judge convicted of fraud
A solicitor who was jailed earlier this year for stealing more than £4m – and maybe as much as £10m – from her clients has been ordered to pay back the £1.9m within three months, or face a further eight years in prison. Meanwhile, a “narcissistic” solicitor and district judge has received a suspended jail sentence after being convicted of fraud offences.
Keystone to become third listed UK law firm with £15m placing
Keystone Law – the pioneering ‘dispersed’ law firm made up of 250 self-employed senior lawyers – is set to become the third legal practice to list on the London Stock Exchange’s AIM market, after announcing today that it will raise £15m through the float.
Disruptive ABS declares war on law’s “outdated and inflexible” working patterns, as DWF gains two ABS licences
Multi-disciplinary alternative business structure (ABS) Alpaca is continuing with its efforts to disrupt legal and other professional services by declaring war on traditional working patterns and offering flexible working to all staff – and making three board-level hires as a result.
Partners who withheld cheques from barristers and experts sanctioned by SDT
Partners who withheld cheques for a total of over £530,000, intended to pay the fees of barristers and experts, have been sanctioned by the Solicitors Disciplinary Tribunal. The architect of the scheme admitted that certain counsel were targeted as they would not kick up a fuss about payment being delayed.
SRA bids to reassure critics of solicitor-free workplace training under SQE regime
The Solicitors Regulation Authority has moved to ensure greater monitoring of future members of the profession who complete their workplace training in firms without any solicitors, under its plans for a new qualification regime. The SRA said external solicitors who sign off work experience in such firms must have “direct experience of the candidate’s work”.
Fees fall for conveyancing and powers of attorney but rise for family work, LSB report finds
Fees for conveyancing and lasting powers of attorney have fallen over the past two years, while they have risen for family work, a report by the Legal Services Board has found. It also revealed that only 18% of law firms publish prices for any of their work in these areas on their websites.
SRA refuses request to disclose correspondence with government over Leigh Day case
The Solicitors Regulation Authority has refused a request to disclose all the correspondence it had with the Ministry of Defence and Ministry of Justice over the Leigh Day case as it announced its intention to appeal the Solicitors Disciplinary Tribunal’s decision to clear the firm and three of its lawyers.
Mishcon incubator buys stake in two lawtech start-ups
London law firm and alternative business structure Mishcon de Reya has invested cash in two of the six lawtech start-ups that its incubator, MDR LAB, chose from among a crowded field earlier this year. Mishcon also announced yesterday that it would run a similar competition in 2018.
Blog
Mazur: a symptom not a cause?
If Mazur is a symptom, what does it mean for the underlying health of our civil justice system: the ‘finest legal system in the world’?
Cross-generation collaboration: the key to in-house legal tech adoption
In-house legal function leaders will increasingly have to evolve their thinking on how to manage multigenerational teams containing differing levels of technological expertise.
AI and law firm risk – the view of professional indemnity insurers
In considering law firm applications for cover, many insurers will expect to see evidence of how firms are adapting to AI and preparing for the future.
