Legal Services Act
Gulf opens between profession and consumer groups over LSB lay chairs proposal
The Legal Services Board’s consultation on its plan to oblige frontline regulators to have lay chairs has met a barrage of opposition from regulators and lawyers, pitted against consumer advocates, which strongly backed the measure.
Here come the big boys – PwC gains ABS licence
PricewaterhouseCoopers (PwC) has become the first of the ‘big four’ accountants to become an alternative business structure (ABS), it announced today. The move allows it to become the owner of, and investor in, PwC Legal.
Direct Line secures ABS licence as rival insurer wins major contract for legal services arm
Direct Line’s new alternative business structure is set to launch on 3 March after receiving its alternative business structure licence, the insurer announced today. Meanwhile, BGL Group – the first insurance company to buy a law firm – has revealed a major client win.
Jordans’ ABS will “help, and not compete, with company’s law firm clients”
The alternative business structure (ABS) set up by Jordans – the company best known for its company formation services and legal textbooks – is looking to work with its existing law firm clients as an outsourcer, not compete with them, its CEO emphasised this week.
New Bar Council chief hits out at LSB independence investigation
The Legal Services Board made “a mountain out of a molehill” with its investigation into Bar Council interference with its independent regulator, the new chairman of the Bar has claimed.
The future of working in law: ‘agile’ lawyers, entrepreneurs and smaller firms
The legal profession is poised on the brink of an employment revolution that will unleash a “pent-up productivity” which will bring it into line with other industries, a report has claimed.
QualitySolicitors’ investor eyes further acquisitions and larger network
The private equity firm behind QualitySolicitors (QS) is eyeing up further acquisitions in the legal market and also thinks the network can quadruple in size, we can reveal. Further, QS is putting the days of headline-grabbing advertisements in primetime television slots behind it.
Lawyers and regulators reject LSB plan to direct future of education and training
Responses to the Legal Services Board’s (LSB) legal education and training framework have revealed broad opposition to its proposal to invoke statutory powers to ensure frontline regulators fall into line behind the LSB’s vision.
Law firm’s online legal document service bids to take on US-based giants
An English law firm yesterday launched a home-grown online documents service that it claimed is the first product with the potential to rival those from the US legal document processing giants Rocket Lawyer and Legal Zoom.
Attorney General “warned LSB about regulatory creep” but indicates no roll-back of Clementi
The Attorney General has warned about the “danger” of regulators micro-managing the legal profession, but also indicated that the government is unlikely to roll back the Clementi reforms that led to the creation of independent regulators.
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.
