Latest news
Barrister who handled client money banned from public access work
Another barrister has fallen foul of the rules on public access, this time by handling client money, leading to a six-month ban from handling such cases and a £1,000 fine for then failing to co-operate with the Legal Ombudsman and Bar Standards Board.
Quayle u-turn leaves CILEx Regulation searching for new chair
CILEx Regulation – the regulatory arm of the Chartered Institute of Legal Executives – is searching for a new chairman after the man who was due to take over last week decided against doing so. In February, CILEx announced that Quinton Quayle, a former British ambassador to Thailand, had been appointed.
Gateley partners will be able to sell some shares during lock-in period
Partners in newly listed law firm Gateley will be able to sell 10% of their shares each year from next June as part of their five-year lock-in, it has emerged. The admission document that Gateley published as trading began in its shares this week revealed a plethora of detail about its operation.
Michael Jackson’s lawyer loses High Court battle over Dewey & LeBoeuf loan
An American celebrity attorney who acted for Michael Jackson has lost a High Court battle with Barclays Bank over a $540,000 loan relating to his time as partner in failed US firm Dewey & LeBoeuf.
There is a “huge future” for high street firms, new SPG chairman says
There is a “huge future” for high street law firms, but the way ahead will be for practices to become more specialised, the new chairman of the Sole Practitioners Group (SPG) has said.
Dyson: There’s nothing left to cut at the Ministry of Justice
The Master of the Rolls has suggested that there is nothing left to cut at the Ministry of Justice in the wake of last week’s announcement that its budget is to be reduced by a further £250m.
Only one solicitor sent to SDT over referral fee ban as large CMCs thrive
Only one solicitor has been sent to the Solicitors Disciplinary Tribunal for breaching the ban on referral fees in personal injury cases, it has emerged. Meawhile, the head of claims management regulation said the “biggest CMCs are making more and more money”.
LSB tells regulators to monitor lawyers over ‘price transparency’
The Legal Services Board has urged the frontline regulators to keep a close eye on ‘price transparency’ among lawyers in the wake of a Legal Ombudsman report that said a quarter of complaints it received were triggered by a lack of clarity over fees.
A moment of legal history as investors start trading law firm’s shares
The price of shares in Gateley rose in early trading today as it broke historic new ground as the first UK law firm to list on the stock exchange. The AIM-listed business, which listed at 95p, saw its shares reach 110p initially before easing back to 99p by close of trading.
Miscarriages of justice charity transforms itself into law firm
A registered charity has become a fully-fledged law firm in what is believed to be the first transformation of its kind, after it received approval from the Solicitors Regulation Authority.
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.
