Latest news
Listing law firms urged to learn lessons of accountancy consolidators
Gateley and other law firms looking to go public must show they can avoid the costly mistakes the accountancy consolidators made when tried stock market listings, a leading commentator has warned.
Gateley bids to win over institutional investors
National law firm Gateley has already made presentations to 30 investment funds and has to convince them that it has learned the lessons of other professional services firms that have listed, the firm’s chief executive has told Legal Futures.
BSB seeks power to shut down chambers
The Bar Standards Board (BSB) has proposed that it should be given, for the first time, the power to intervene in barristers’ practices and chambers. It also wants new powers on fines and setting up a compensation fund.
Bar Council chair pleads with barristers to pay fee that funds representative work
The chairman of the Bar Council has urged the increasing number of barristers who decline to pay a voluntary £100 levy to fund its representative work to think again. Alistair MacDonald contrasted this reluctance with the 7,722 barristers who each made a £30 donation to help fund the Bar Pro Bono Unit.
GC Hub aims to save in-house lawyers and law firms time and money
A former Addleshaw Goddard partner has set up a website to help in-house lawyers and law firms work together more effectively. Richard Fleetwood is working on GC Hub with the former head of legal at Rolls-Royce.
Legal Ombudsman sets lowest budget to date but fears staff turnover following expenses row
The legal profession is set to pay less than ever for the Legal Ombudsman in the coming year, although the organisation has warned that the recent furore over its employee benefits scheme has increased the risk of extra costs arising from higher staff turnover.
Solicitors urged to learn from retailers to help improve client satisfaction
Problems with communication continue to dog solicitors, the results of the largest-ever client research have shown, while the way they follow up potential leads is another area where major improvement is needed.
High Court rejects challenge to closure of ABS from solicitor who “lost ethical compass”
The High Court has rejected a challenge to the closure of an alternative business structure by the Solicitors Regulation Authority. It was the first time an ABS closure decision has been tested in the High Court.
SRA widens definition of ‘small firms’ by doubling turnover limit
The Solicitors Regulation Authority (SRA) has widened its definition of a ‘small firm’ by doubling the annual turnover limit from £200,000 to £400,000. The limit of four on the number of managers is not changing.
Gateley eyes acqusitions as it says listing will give “first-mover advantage”
National law firm Gateley has today formally announced its intention to float on AIM, saying the “first mover advantage” it will gain by being the first listed law firm will provide “a platform to expand and diversify”.
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.
