Latest news
Report on ABS benefits says England and Wales experience “inconclusive”
A Canadian report on alternative business structures has issued a cautious verdict on majority non-lawyer ownership, judging the model to be as yet unproven, based on the experience so far in England and Wales and Australia.
Simpson Millar vendors receive £3m earn-out after hitting targets
The shareholders who sold national law firm Simpson Millar to Fairpoint Group plc in June 2014 have received their full £3m earn-out after the practice exceeded its first-year financial targets. Fairpoint paid an initial £7m in cash – on a debt-free, cash-free basis – and 1.4m shares in the group.
Brexit would hit legal services harder than most, Law Society research predicts
Legal services would be more heavily affected than the UK economy as a whole should the country withdraw from the European Union, groundbreaking research commissioned by the Law Society has predicted.
City firm amends LLP deed after becoming first to take on status as socially responsible business
Bates Wells & Braithwaite has become the first UK law firm to gain ‘B Corporation’ certification to mark its social and environmental performance, and as part of the process had to amend its LLP deed to provide that the firm is not just run for the benefit of the partners.
Exclusive: Barristers’ chambers sets up ABS to attract overseas clients
A barristers’ chambers is set to launch an alternative business structure to help it obtain international work, because it will give the appearance of a solicitors’ firm to foreign clients who do not understand direct access.
Solicitor who forged client’s signature on witness statement struck off
A solicitor who forged his client’s signature on a witness statement has been struck off, even though the client himself expressed surprise that disciplinary action had been taken. The Solicitors Disciplinary Tribunal said “it was regrettable that a long and previously unblemished career should end in this way”.
AIM-listed legal marketing business eyes up further acquisitions as it unveils strong results
National Accident Helpline today reported strong first-half results as it looks for further acquisitions in both the personal injury and conveyancing markets. The AIM-listed legal marketing business said revenue was up 15% to £25.4m for the first six months of 2015, with operating profit increasing 21% to £6.5m.
Row over entry to the profession after Law Society accuses SRA of pre-emptive decision on new assessment
The Solicitors Regulation Authority has issued a strong denial that it has already made up its mind over how it will assess the competence of would-be solicitors, after the Law Society suggested that it had.
SDT throws out allegations of forgery against fee-earner
The Solicitors Disciplinary Tribunal has thrown out forgery charges against a non-qualified fee-earner, deciding he had no case to answer and that the Solicitors Regulation Authority should pay costs of £5,000 as a reminder to it to keep cases under review as they progressed.
Poll: Public have negative view of increase in legal services advertising
The increase in advertising legal services is having a negative effect on the justice system, according to a survey of 1,261 members of the public. There were similar findings in relation to the growth of ‘no win, no fee’ cases.
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.
