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
Whistleblowing guidance for in-house lawyers – a call to arms
In-house lawyers are in a unique position to spot wrongdoing. But reporting it is not just potentially dangerous from a personal point of view.
The importance of benchmarking reports – and lessons on profitability
Regional firms reported the largest revenue growth this year (12%), outpacing their City counterparts. Yet many are not converting that growth into profitability.
Fixed recoverable costs: Sacrificing justice for predictability?
The extended fixed recoverable costs regime is failing to achieve its stated objectives. Instead of promoting fairness and efficiency, the rules are creating anomalies that undermine justice.
