Latest news
LSB research: Firms see little value in what they spend on regulation
Regulation accounts for between 15% and 23% of the costs of law firms, money they would generally not bother spending if they were not required to, an indicative study by the Legal Services Board has found. However, the opposite was the case for lawyers practising as individuals.
Gateley posts strong results and “is already seeing benefits of listing”
Improving market conditions saw Gateley record revenue growth of 11.5% and profits up 32% in its last financial year, the listed law firm told the stock exchange today. Becoming a public company is helping to differentiate the firm, improve its profile and aid recruitment, it also told investors.
Barrister loses appeal against disbarment for misconduct over illness claim
The Visitors of the Inns of Court have thrown out appeals by a barrister against three disciplinary tribunal rulings, including one which disbarred him for seeking an adjournment of his case on grounds of ill-health, although he was found conducting a trial just days later.
High Court backs decision not to strike off solicitor who lied to avoid speeding penalty
The High Court has rejected a Solicitors Regulation Authority bid to increase the sanction for a solicitor who committed perjury to avoid a speeding fine from a suspension to a striking-off. Mr Justice Dove found that it could not be said the two-year suspension was “clearly inappropriate”.
Legal Services Board approves relaxation of rules on accountants’ reports
The Solicitors Regulation Authority’s plans to relax the rules around accountants’ reports have been formally approved by the Legal Services Board, meaning that around 1,000 more law firms will not have to submit one in future
Employed barristers need specialist training in “persuasive advocacy” beyond the courtroom
The needs of employed barristers should not be ignored and “second class citizenship” should “by now be a myth”, a former Crown prosecutor has said. Karen Squibb-Williams argued that specialist training should be introduced for employed barristers, including “persuasive advocacy” which could be used in the boardroom as much as the court.
ABS sees expansion of non-legal services as key to growth
A North West alternative business structure has launched the latest in a series of branded businesses calculated to appeal to its commercial clients and strengthen the bond between them and the firm.
High Court refers immigration solicitors to SRA after five “hopeless” judicial reviews
The High Court has referred an immigration practice to the Solicitors Regulatory Authority after reviewing five “hopeless” judicial reviews, each of which had already been deemed to be an abuse of process.
SRA hoping for end of “long journey” on consumer credit after FCA deal
The chair of the Solicitors Regulation Authority has said the end is in sight of its “long, long journey” on consumer credit after a last-minute deal with the Financial Conduct Authority.
SRA postpones introduction of third-party alternative to client account
The introduction of third-party managed accounts as an alternative to traditional client accounts will be postponed by at least a year to the end of 2016, the Solicitors Regulation Authority board decided yesterday. However, the board approved a mixed bag of deregulatory rule changes on other issues.
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.
