Latest news
Solicitor who “completely failed to carry out money laundering checks” is suspended
A former sole practitioner who “completely failed to carry out money laundering checks or prevent his client bank accounts from being misused”, and as a result saw hundreds of thousands of pounds pass through his firm, has been suspended by the Solicitors Disciplinary Tribunal (SDT).
Internet will control access to the law, says head of small business service
The Internet will take over as the main way SMEs and consumers access the law, the owner of the biggest online advice service for small businesses has predicted. Rory MccGwire said consumers would rely on a mixture of online DIY, telephone or online help, and lawyer-matching or comparison websites.
PI cold-calling ban will stay in place, says SRA, as Law Society steps up attack on Handbook rewrite
Fears that the rewritten SRA Handbook might not continue the ban on law firms cold-calling potential personal injury clients have been allayed by the regulator. Meanwhile, the Law Society has released an opinion poll showing public opposition to the SRA’s plan to allow solicitors to practise from unregulated businesses.
Slater & Gordon to sue over acquisition of Quindell’s professional services division
Slater & Gordon has announced that it is taking legal action against Watchstone Group – formerly Quindell – over its £637m purchase of Quindell’s professional services division last year. At the start of 2016 S&G unveiled a massive write-down of goodwill arising from the acquisition.
Gateley boosts property practice by buying firm of surveyors
Listed law firm Gateley has continued its acquisition of complementary businesses by spending up to £2m to buy a firm of surveyors that will work alongside its property practice. Hamer Associates specialises in easements and wayleaves, and compulsory purchase and compensation.
“Lawyers turn to us anyway” – accountants lay claim to probate work
It would be less stressful and less expensive for clients to use their accountants for probate work than solicitors, one of the leading accountancy bodies has claimed. Meanwhile, the head of an accountancy ABS said it made “little sense” for lawyers to handle uncontested probate work.
SME lobby: regulators must have power to force lawyers’ price information into public domain
The Federation of Small Businesses has recommended that legal services regulators be given sweeping powers to force providers to make public wide-ranging information on pricing and client feedback. The not-for-profit organisation, which lobbies for the interests of SMEs, also advised that ‘unmet need’ among small businesses is addressed by boosting the information available on what problems might have legal remedies.
Exclusive: 6 Pump Court becomes first major set to create BSB entity
London set 6 Pump Court has become the first major chambers to set up a Bar Standards Board-regulated entity. However, head of chambers Stephen Hockman QC – a former chairman of the Bar Council – was optimistic about the durability of the traditional chambers model.
Fairpoint’s transformation into listed legal business continues apace
The transformation of AIM-listed Fairpoint Group into a legal services business continued apace in the first six months of 2016, its half-year results showed yesterday. Revenue increased by 24% to £28.3m in the period, of which £21.5m was from legal services, nearly twice as much as a year before. Profits were steady at £4m.
Bring unregulated providers within LeO’s jurisdiction, says chief ombudsman
The changing legal market means that anybody offering legal services – including unregulated providers – should have to offer some kind of access to the Legal Ombudsman, the chief ombudsman has said. Kathryn Stone said this would be “a much more coherent way for us to provide our service”.
Blog
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.
From ‘year zero’ to £6.5m – how a law firm found its second life
In 2018, I hit what I call ‘year zero’. On paper, Olliers Solicitors was a top-tier criminal defence firm but beneath the surface, I could see we were at a crossroads.
