Market monitor
Law firm EOT “gives staff security against sale”
Transferring the ownership of law firms to employee ownership trusts (EOTs) boosts staff loyalty by giving them more security if the firm is sold, the chief executive of the latest firm to create an EOT has said.
Listed law firm leads fresh M&A rush
There has been a spate of merger and acquisition activity among law firms across the country over recent weeks, with listed firm Knights yesterday entering Birmingham in a £4.7m deal.
Reed Smith looks to “future proof” practice as ABS
The English arm of international law firm Reed Smith has become an alternative business structure as it looks to “future proof” its practice by offering non-legal services and hiring non-lawyer partners.
MoJ scotches hopes of whiplash shift over children
The Ministry of Justice has refused to give way to the concerns of claimant groups that children who suffer whiplash injuries lasting less than nine months will be denied access to justice under next April’s reforms.
MoJ: No change to whiplash reform timetable
The Ministry of Justice is continuing to work towards April 2020 to implement the whiplash reforms despite the upcoming election, it has confirmed.
Conveyancers “need not fear” home buying shake-up
A “single source of truth” that contains all the information about a property before it goes on the market is in the works as part of plans to speed up the home buying and selling process, it has emerged.
Mega-survey highlights need to grow “legal confidence”
The largest legal needs survey ever run in England and Wales shows what a difference professional advice and ‘legal confidence’ among consumers makes to the outcome of their matters.
“Good reasons” for larger firms to look at listing
There are “many good reasons” for larger law firms to considering listing on the stock market, especially with growing competition from alternative legal services providers, a survey has warned.
“Urgent need” to help hard-hit rural law firms in Wales
The Welsh Government should develop and implement as soon as possible a detailed strategy to “reinvigorate the rural and post-industrial legal sector” in Wales, a major report has recommended.
Exclusive: Top-40 accountancy firm launches ABS
Top-40 accountancy firm Streets has become the latest to add legal services to its offering with an alternative business structure licence – making it only the seventh top-100 firm to do so.
Blog
Modern search is about ‘knowledge’ retrieval
Search has long been understood as data retrieval – the ability to call back information and check a box on finding something. Legal professionals today need more of a 360-degree view on a matter.
Lessons from Sir Keir Starmer for SRA chief
The proposed 29%, or £25m, increase in the Solicitors Regulation Authority’s budget announced last week should really come as no great surprise.
The hidden risks in client account reconciliations
The client account reconciliation process will be second nature to most people in legal finance – and so is also a potential area for a problem to be undetected until it becomes serious.
