Market monitor
Gauke: Innovation and tech the way forward on legal aid
The justice secretary said yesterday that innovation and technology, rather than significant increases in legal aid spending, are the way to improve access to justice.
Lawyers “must make way” for justice innovation to take hold
A report on global access to legal services has identified established legal professions led by lawyers as a block to progress and urged them to step aside in favour of non-lawyer leaders.
Business environment holding back M&A, says listed firm
A cautious business environment, prompted in part by Brexit, is holding back corporate work and its own acquisition activity, listed law firm Rosenblatt said yesterday.
DWF float: “Haircut” for partners but free shares for staff
The partners of DWF will “take a haircut” following its proposed stock market listing, but staff will receive free shares as part of the plan to widen equity participation, its chief executive has said.
“A new type of law firm” is needed to tackle PI reforms
A “new type of law firm is needed” to respond to next year’s PI reforms, National Accident Helpline has said as it confirmed its new ABS would open in April. Also news from Anexo, Watchstone and S&G.
Knights on the march with fourth deal and soaring share price
Knights has unveiled its fourth acquisition in the eight months since it listed with a £10m deal to buy Oxfordshire firm BrookStreet des Roches and saw its share price soar as a result.
DWF unveils plan for blockbuster stock market listing
Top-25 law firm DWF unveiled its long-anticipated plan to float today, and will be the first law firm to list on the main London Stock Exchange. DWF is thought to be looking to raise £50-100m.
Network-owned law firm eyes first acquisition in London
A Manchester law firm taken over last month by an international network of professional services firms is looking to buy a London practice as its first post-acquisition move.
“Senior judge’s salary enough”, divorcing husband told
A divorcing husband’s income was equivalent to that of senior judges and more than sufficient for his post-divorce needs, the High Court has ruled.
Large law firms “increasingly losing out to Big 4”
The Big Four accounting firms are really starting to make their mark in the law, with 23% of large law firms in the UK and US saying they have lost work to them in the past year.
Blog
Strong AML controls are meaningless with incomplete data
One expectation as the FCA takes control of anti-money laundering oversight is a move towards more supervision rather than simply writing new rules.
Navigating the legal AI productivity-profitability paradox
Firms are achieving efficiencies through AI, especially in the practice of law. Yet many are struggling to see that reflected in their financial outcomes
Regulation, growth and access to justice: why legal services need a reset
Well-intentioned consumer protections embedded in the regulation of legal services increasingly act as barriers to innovation, competition and access to justice.
