Legal Services Act
Kennedys becomes second largest law firm to convert to ABS status
City firm Kennedys has become the second largest law firm to become an alternative business structure (ABS) after being awarded a licence by the Solicitors Regulation Authority. The firm said the licence will allow greater opportunities for growth.
“Do not dismiss ABSs,” Lord Judge tells criminal law barristers
Lord Judge, the former Lord Chief Justice, has warned criminal law barristers that the “old-fashioned chambers structures must be reconsidered” and they must not dismiss alternative business structures “out of hand”.
LSB must “knock heads together” to lower burden of proof in disciplinary proceedings
The Legal Services Board must “knock heads together” to replace the criminal burden of proof in disciplinary proceedings involving solicitors and barristers with the civil standard, the chair of the Legal Services Consumer Panel has said.
LSB backs rules to prevent large organisations claiming on compensation fund
The Legal Services Board has approved the introduction of restrictions that prevent large organisations from making claims on the Solicitors Compensation Fund. Claims will only be considered if they are made by individuals, small businesses, small charities or small trusts.
Now BT Law provides employment advice to external clients
BT Law, the alternative business structure launched by BT in March 2013, is providing employment law services to four external clients, it has emerged.
Groundbreaking accountancy ABS targets broader range of legal services
The first firm of accountants to become an alternative business structure (ABS) licensed by its own regulator is planning to extend the range of legal services it offers, its senior partner has revealed.
Neil Hudgell Solicitors doubles in size with purchase of Rapid
Highly acquisitive personal injury firm Neil Hudgell Solicitors has doubled in size with the purchase of rival Hull firm Rapid Solicitors, creating a £20m practice. The combined firm will have over 220 staff and handle more than 10,000 claims.
SRA’s “flexible” approach to MDPs backed by LSB
The Legal Services Board has backed a new “flexible” approach by the Solicitors Regulation Authority aimed at making it easier for multi-disciplinary partnerships to become licensed as alternative business structures.
Keystone Law takes private equity investment
Leading ‘dispersed’ law firm Keystone Law has taken £3.15m investment from boutique private equity firm Root Capital in return for a 35% stake in the business. It will in part be used to buy out founding partner Charles Stringer.
Legal Services Board names new chief executive
The director of regulation at water company Affinity Water has been named the new chief executive of the Legal Services Board (LSB). Richard Moriarty will join the LSB in early 2015 with a background spanning a number of regulated sectors across the economy.
Blog
Amplifying reach through employee-driven thought leadership
Nine in 10 executives believe thought leadership is critical to building authority, yet only a quarter feel they have implemented a robust strategy.
Divorce escrow: asset sales before final settlement
When significant matrimonial assets are sold before a final financial order is agreed, holding the proceeds safely and neutrally can present real practical challenges.
AML lacks clarity – and standards are suffering
If firms are buckling under the pressure of AML regulations, subject to ever-increasing fines, then something is clearly not working as it should be.
