Legal Services Act
LSB gives green light to work on radical shake-up of financial protection arrangements
The possibility of clients buying ‘top-up’ cover to fill the gaps in compulsory professional indemnity insurance has been floated by the Legal Services Board as it set the scene for a significant shake-up of current financial protection arrangements.
Slater & Gordon announces latest UK acquisition – but it’s not who you think
Slater & Gordon has announced the acquisition of a well-known northern legal practice – but not the one everyone was expecting. There was no mention of the talks to buy the consumer practice of Pannone at its AGM today.
Debt recovery ABS plans to double £10m turnover in three years
Ascent, the specialist debt alternative business structure that is part of the Irwin Mitchell Group, has outlined plans to more than double its turnover in the next three years. The Manchester-based firm has appointed two new chief operating officers to help drive the growth.
Law Society intervenes in QASA judicial review
The Law Society has been granted permission to intervene in the judicial review of the legality of the Quality Assurance Scheme for Advocates (QASA). The society said it is intervening in the case “in the best interests of all advocates”.
Solicitors’ market “wide open to competition” from national brands, says LSB
Most aspects of legal services can be delivered nationally and there is still significant potential for big brands to come in and provide large scale, lower cost services, according to a major report into competition in the solicitors’ market.
Exclusive: SRA snaps up LSB strategy chief
Crispin Passmore, the director of strategy at the Legal Services Board, is jumping ship for a newly created director-level policy role at the Solicitors Regulation Authority, Legal Futures understands.
Life-coaching ABS cooperative targets growth
A Leicester cooperative law firm that offers life coaching in addition to legal services, has obtained an alternative business structure (ABS) licence in order to develop its training arm. Kinetic Law Services Limited is the 199th ABS approved by the SRA.
The end of first ABS failure nears
The end of the first alternative business structure failure moved a step closer today after In-Deed Online plc announced plans for a reverse takeover by an e-learning company. AIM-listed In-Deed was the first listed company to buy a law firm.
LeO expansion could create “muddle” for consumers, will writers warn
The Legal Ombudsman’s plan to widen its jurisdiction will cause a “muddle”, the Institute of Professional Willwriters has warned, revealing that other ADR providers had indicated an intention to move into the sector themselves.
ABS unveils acquisition strategy
Alternative business structure MTA Solicitors is bidding to grow its national network by acquiring firms and attaching them to its centralised support and resource infrastructure. It comes as another acquisitive practice has rewarded staff with a shorter working week.
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.
