Latest news
Dispute looms over how Law Society can spend practising fee income
A “potentially high-profile and contentious” dispute between the Legal Services Board (LSB) and the Law Society is looming over how the latter spends money derived from practising fees. The LSB is to review its 2009 Practising Fee Rules after a hole was found in the Legal Services Act 2007.
Conveyancing solicitors acting for both sides must report crucial details to lenders, appeal judges rule
Solicitors acting for both sides in property transactions are under a duty to disclose crucial details to lenders, the Court of Appeal has ruled. They are not expected to act as a “detective or bloodhound”, but should report adverse “non-confidential information”.
ABS update: Parabis, Slater & Gordon, DAS Law and EY
The Parabis Group – the first law firm to be bought by a private equity business – is on the verge of being broken up, two months after problems first emerged. Meanwhile, England cricket captain Alistair Cook has helped launch a drop-in centre at Slater & Gordon’s flagship Manchester office.
Suspension for barrister who appeared in court without practising certificate
A Bar disciplinary tribunal has suspended barrister Martin Wynne Jones for three months for representing clients in court without a practising certificate, while disciplinary action has also been taken against a barrister who falsely claimed to have a law degree, and another who made false declarations about criminal convictions.
LSB to probe whether competition has brought down cost of legal services
A probe into what impact post-Legal Services Act competition has had on the cost of legal services has been launched. The Legal Services Board said that understanding changes in prices over time was one of the “key measures of the impacts of regulatory reforms designed to promote competition”.
Direct access service winning work mostly from solicitors and other barristers
Clerksroom Direct, which has over 1,000 direct access barristers on its books, has said that only around only 20% of its recent cases have come directly from members of the public. Half came from law firms and the rest from barristers’ chambers.
CA adds extra negligence finding and £375k damages on top of High Court’s £1.6m Withers ruling
The Court of Appeal has made an additional finding of negligence against leading London law firm Withers over its drafting of an LLP agreement and increased the £1.6m in damages awarded in the High Court by a further £375,000.
Barristers “under pressure” to agree not to act against big clients if they want their work
Barristers need to resist pressure from big clients and government departments to agree not to act against them in the future if they want instructions, the Bar Council has said. It said it would be “professionally improper” to agree to such a condition.
LIBOR documents drawn up by Clifford Chance are protected by legal advice privilege, High Court rules
Documents drawn up by Clifford Chance for a special RBS committee dealing with the LIBOR scandal are protected by legal advice privilege, the High Court has decided, saying that lawyers must have able to give clients “candid factual briefings” as well as legal advice.
SRA shuts several law firms, with dishonesty allegations to the fore
The Solicitors Regulation Authority has closed a host of law firms in recent weeks, including two London firms on the grounds of suspected dishonesty.
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.
