Latest news
News in brief: Unbundling appeal rejected, CLC cuts fees, and more
It’s been a busy few days and here we round up other key news, with updates on unbundling legal services, the Council for Licensed Conveyancers, the value of the legal market, new members of the Legal Services Board, a successful government wills campaign, and extended run-off cover for solicitors.
Legal consultancy becomes first SRA firm to use BARCO
The Legal Director, a legal consultancy which provides in-house lawyers to businesses on a contract basis, has become the first firm regulated by the Solicitors Regulation Authority to use the Bar Council’s third-party escrow account, BARCO.
Longstanding QualitySolicitors firm to leave network and concentrate on local work
West Midlands firm Talbots – a stalwart of the QualitySolicitors network – has announced that it is leaving the group in May. Chief executive Mary Mocklow said Talbots would compete better as an independent law firm.
SRA announces rethink on training reforms
Paul Philip, chief executive of the Solicitors Regulation Authority, has announced a rethink on plans to abolish the minimum period of workplace training required by all future solicitors. Meanwhile, the regulator also yesterday launched ‘Law Firm Search’, a new searchable, online database of the law firms it regulates.
Slater & Gordon “failed in due diligence” over Quindell purchase
Slater & Gordon failed to carry out good enough due diligence checks before buying Quindell’s professional services division this time last year, a partner at the UK’s first listed law firm has suggested. Andrew Evans, partner at Gateley, said S&G paid “far too much”.
Cheap is not cheerful, as only one in 10 choose conveyancer on price
The proportion of people selecting their conveyancer on price has fallen to only one in ten, a survey of 5,400 home movers has shown. The same survey found that only three years ago 20% of clients chose the cheapest.
Freshfields team wins Hackney Law Centre hackathon with A2J website
A team of computer coding specialists from magic circle firm Freshfields Bruckhaus Deringer have won a groundbreaking ‘hackathon’ to create an IT-based product of use to Hackney Law Centre, with a multi-lingual access to justice website built from scratch in just 24 hours.
NAH records strong 2015 but warns that PI reforms will squeeze profits
NAHL Group plc – the AIM-listed business that owns National Accident Helpline – has announced strong results for 2015, but warned that impending government reforms to personal injury (PI) claims are likely to hit profits in the current financial year. Meanwhile, the SRA has issued a warning notice about PI fraud.
Report highlights perception gap between partners and fee-earners
There is a big gap in the way partners and fee-earners at medium-sized law firms view where they work, including “an exaggerated sense of progressiveness among decision-makers”, a new report has found. Partners were far more confident than fee-earners that their firm had a “clear strategy for the future”.
Court of Appeal upholds £250 damages award over law firm’s negligence
Two former clients of Suffolk law firm Gotelee who were only awarded £250 in damages after a finding of negligence have failed in their bid to increase this to £100,000. The firm admitted that it negligently failed to advise the developer claimants that there was a planning restriction attached to a property they bought.
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.
