Legal Services Act
Pitt: regulators will work together on alternatives to client accounts
Frontline regulators are to collaborate on identifying business models that will avoid lawyers holding client money, it has emerged. The regulators will also come up with joint proposals to amend the Legal Services Act, for top level discussion early next year.
LSB attacks “arbitrary nature” of separate business rule
The Legal Services Board has attacked the “arbitrary nature” of the separate business rule used by the Solicitors Regulation Authority, and said the list of what is permitted and what is not is “confusing”.
Cartwright King launches first “in-house chambers”
National firm Cartwright King has opened what it describes as the first “in-house chambers”, made up of 20 advocates, including five barristers. All the solicitors in the chambers are higher court advocates.
Law firms “increasingly worried” by threat of ABSs and non-solicitor competitors
Competition from alternative business structures and non-solicitor organisations is of increasing concern to law firms, Law Society research has revealed. At the same time, compliance with Solicitors Regulation Authority rules remains the main problem identified by solicitors.
Kenny goes from regulating lawyers to defending doctors and dentists
Chris Kenny, outgoing chief executive of the Legal Services Board, is to join the Medical and Dental Defence Union of Scotland, it has emerged. The union is a fund of over half a billion pounds being managed for the benefit of 40,000 members throughout the UK.
East London ABS the first to specialise in Islamic finance
A British PhD student, a Polish accountant and a Brazilian lawyer have come together to form a unique alternative business structure, the first to specialise in Islamic finance.
Court of Appeal throws out QASA challenge
The Court of Appeal today comprehensively dismissed four criminal law barristers’ challenge to the Legal Services Board’s approval of the Quality Assurance Scheme for Advocates. With the Master of the Rolls, Lord Dyson, giving the lead judgment, the court found that the scheme is lawful.
Top European debt purchaser buys specialist advocacy law firm
One of Europe’s largest debt purchasers has acquired a Welsh law firm that specialises in outsourced advocacy following the grant of an alternative business structure (ABS) licence by the Solicitors Regulation Authority.
Urge to merge hits law firms across the land
A further series of mergers around the country have been announced as consolidation in the legal market continues to take hold. There is usually a rush of mergers each year timed to coincide with the 30 September deadline to secure professional indemnity insurance.
KPMG granted wide-ranging waivers from SRA rules
The Solicitors Regulation Authority has granted KPMG 12 waivers from the rules governing solicitors, in what appears to be a work-around ahead of proposed new rules that will make it easier for multi-disciplinary practices to become alternative business structures.
Blog
Small steps, big impact: how SME law firms are making legal tech work
For SME law firms, the priority is turning the potential of tech into measurable impact: success is driven not just by the technology, but by how firms approach planning and implementation.
Why housing disrepair claims against councils have leapt by nearly 400%
Housing disrepair claims against councils have surged dramatically in recent years, with some areas reporting increases approaching a staggering 400%.
Client accounts: Opportunity, obligation and the risks in between
The profitability gap between well-run firms and the rest is not primarily a function of size, location or practice area – it is a function of financial management.
