Legal Services Act
Top firms turn backs on stock market listing and private equity cash
The UK’s top law firms have become increasingly sceptical about listing on the stock market or taking on private equity investment, according to new research.
QASA challenge on its last legs
The legal challenge to the Quality Assurance Scheme for Advocates (QASA) is nearly at an end after the Court of Appeal refused permission to appeal the High Court decision that rejected it.
Here come the accountants, part 2: EY to enter legal market
The prospect of the ‘big four’ accountants challenging the City status quo moved up another notch today after EY hired a senior lawyer to build a “legal capability” in the UK.
Banks agree £60m funding facility to fuel “substantial” growth at Irwin Mitchell
Irwin Mitchell has signalled its intention to grow “substantially” in the coming years after securing a £60m four-year finance package with three major UK banks. The deal also includes a £30m ‘accordion’ facility for further finance if required for a big transaction.
LexisNexis awarded ABS licence to launch compliance service
LexisNexis UK has been licensed by the Solicitors Regulation Authority as an alternative business structure (ABS) to launch a compliance business combining content, technology and advisory services.
BT legal chief warns firms of new entrant threat as its ABS eyes expansion
There is no reason why you need a law firm to carry out many of the tasks that traditional firms have previously handled, the group general counsel of BT has warned. Dan Fitz also revealed that it was looking to expand the work handled by BT Law, the company’s ABS.
Sir Michael Pitt to be new LSB chairman
Senior civil servant Sir Michael Pitt will take over from David Edmonds as chairman of the Legal Services Board (LSB), it has been announced. Mr Pitt has no legal background and was chief executive of the Planning Inspectorate for three years from March 2011.
Smaller may be better to thrive in new legal world, report suggests
Small firms and sole practitioners may turn out to be the stars of the legal services revolution, according to a survey which this week claimed it has identified among them a new breed of successful and entrepreneurial lawyer.
Consumer panel chief: it’s how the work is done, not who does it, that matters in new legal world
Lawyers need to find new ways to differentiate themselves in an era when their professional titles will start to lose meaning for consumers, according to the chair of the Legal Services Consumer Panel.
Edmonds urges Law Society and Bar Council to accept change in interests of their members
The attitude of “some in positions of immense responsibility” in the legal profession represents a “direct threat” to an innovative future for legal services, the chairman of the Legal Services Board has claimed.
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.
