Latest news
Big firms hit hardest by fall in conveyancing transactions, report finds
The top five conveyancing firms handled 36% fewer transactions in the first quarter of this year, a report has found, and their market share dropped from 8% to 6%. On average, firms handled 14% fewer transactions and the number of firms also fell.
High Court backs SRA over bankruptcy costs claim
The High Court has backed the Solicitors Regulation Authority in denying a trustee in bankruptcy the right to deduct his costs from client funds held by a solicitors’ practice after the principals were made bankrupt.
New-model firm pitches white-label regulation to overseas “non-dom” law firms
New-model practice Carbon Law Partners is set to launch a ‘white label’ service to enable foreign law firms to practise in England and Wales under their own brand, without having to seek regulatory approval or professional indemnity insurance in their own right.
Solicitor entrepreneur launches crowdfunding push for legal app
Lauren Riley, a solicitor entrepreneur who appeared on ‘The Apprentice’, is launching a bid next week to raise £150,000 for her legal app through crowdfunding. She said about 80 small and medium-sized law firms had registered an interest in the product.
Only 4% of CMC complaints relate to personal injury work, LeO reveals
Only 4% of complaints about claims management companies (CMCs) received by the Legal Ombudsman (LeO) relate to personal injury work, it has emerged, in the first release of figures since Leo began its new role.
Osborne: Ministry of Justice to find extra £249m in “savings”
The Ministry of Justice is to find an extra £249m of “savings” this year as part of government measures to reduce public debt, the Chancellor, George Osborne, revealed today. This takes the budget cut at the MoJ this year to nearly £1bn.
SRA board backs radical changes to separate business rule
The Solicitors Regulation Authority approved a radical overhaul of the separate business rule at its board meeting yesterday, despite strong opposition from the Law Society. The changes are planned to come into force on 1 November this year.
Lawyers urged to play it cool with litigants in person
Solicitors, barristers and legal executives have been told by their professional bodies to be polite and non-judgemental when dealing with litigants in person (LiPs), and take “extra care to avoid using inflammatory words or phrases”.
Solicitor jailed for role in £4.3m land-banking scam
A solicitor has been jailed for five and a half years for his role in a £4.3m land-banking scam. Dale Walker was convicted of possessing criminal property and of aiding and abetting the carrying on of a regulated activity without authorisation.
Little interest from solicitors in third-party client accounts, survey suggests
Only 5% of solicitors would be interested in transferring their client accounts to a third party, a survey of firms in the south east has suggested. The SRA is consulting on whether to allow the move.
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.
