Legal Services Act

Lawyers will have to wait patiently for another chance to complain to the government about the Legal Services Board (LSB) as it emerged that the board’s second ‘triennial review’, due this year, has been scrapped.

The Bar Standards Board has rejected suggestions that its application to become an alternative business structure licensing authority will unnecessarily restrict the extent of non-lawyer ownership and so have a detrimental effect on competition.

Personal injury firm Asons has suspended building work on an “iconic” £8m new office in Bolton and announced a restructuring programme in response to chancellor George Osborne’s Autumn Statement. The firm said it wanted to focus on “shoring up its defences”.

The finance directors of large law firms prefer to stick with more traditional forms of funding for their practices that do not involve accepting external investment, new research has indicated.

Slater & Gordon has withdrawn its predictions for the current financial year, saying profit is likely to be hit as a result of “slower than expected” case settlements in the UK. The problems are in the main S&G practice, along with the noise-induced hearing loss portfolio bought by the firm from Quindell.

The Office for Legal Complaints is to put in place a new performance plan for the Legal Ombudsman next year to tackle falling standards, it has emerged. Steve Green, chair of the OLC, promised things would be on an “upward trajectory” next year.

The Legal Services Board has begun work on whether it could and should introduce a voluntary regulation scheme for currently unregulated legal services providers. As part of a wider package of work on unregulated providers, it is also to investigate in depth their role in the will writing and estate administration, family law, and intellectual property markets.

Shareholders in Gateley – the first UK law firm to float – are to see the first fruits of their investment after the company announced an initial dividend on the back of strong first-half results. Gateley’s revenue for the six months to 31 October was up 10.9% to £29.6m, with profit before tax rising 11.5% to £2.9m.

The Bar Standard Board expects to regulate just 20 alternative business structures each year in the first three years after it becomes a licensing authority. Its prediction likely reflects caution prompted by the weaker than expected take-up of BSB-regulated entities.

The law firm acting on behalf of hundreds of investors in Quindell has today issued its letter of claim over alleged misrepresentations made by the company. Your Legal Friend – the consumer-facing brand of Liverpool firm Camps – has issued on behalf of an initial claimant group of 342 retail investors.