Legal Services Act
SRA and Legal Services Board tussle over ABS application process
The Legal Services Board has been critical of the length of the time the Solicitors Regulation Authority has taken to approve alternative business structures, it has emerged.
Exclusive: QS launches R&D division, with new campaign and strategy imminent
QualitySolicitors is set to unveil a “new approach to delivering legal services”, Legal Futures can reveal. It comes as the company’s deal with WH Smith winds down and founder Craig Holt becomes president to focus on research and development.
SRA will consider “fast-tracking” ABS applications aimed at price competitive tendering
The Solicitors Regulation Authority (SRA) will consider fast-tracking alternative business structure (ABS) applicants who want to bid for the government’s proposed criminal legal aid contracts, Legal Futures can reveal.
Consumers “still see lawyers as too expensive”, says research
Close to half of consumers of legal services are not satisfied with the value for money they received, with probate providing the least satisfaction and will writing the most, according to research. Just 57% considered they received value for money on average.
Legal sector “ripe” for investment
The legal sector is “ripe” for investment and capital should not be an issue with so many investors looking to buy into the profession, lawyers in the north-west were told this week. They were urged to “seize the opportunity” to establish what their clients wanted.
Horwich Farrelly becomes latest north-west ABS to head to London
Manchester-headquartered alternative business structure Horwich Farrelly has headed south to launch an office in the City of London. The specialist insurance litigation law firm estimates that the new office will generate up to £2m of income in its first year.
Only fifth of businesses use external lawyers to cope with consumer rights law
The cost to businesses seeking legal advice to comply with current piecemeal consumer rights legislation is as high as £2,500 a year – but they should see big savings as a result of forthcoming reform, the government has claimed.
Legal Ombudsman chairman calls for major expansion in jurisdiction
All consumers of legal services – using a broad definition that includes “linked professional services and advice that has a legal dimension” – should have access to the Legal Ombudsman, its chairman said today.
Survey: conveyancers more worried by lenders than ABSs
Lender panels, rather than alternative business structures (ABSs), are the main threat to conveyancing businesses, new research has found. Interest among conveyancers in becoming an ABS also appears to be falling.
Exclusive: not-for-profit venture capitalists poised to invest in law firm start-up
A not-for-profit venture capital business that promotes innovation is set to invest in a start-up law firm targeting the technology sector, Legal Futures can reveal. The unusually named Atypical Law Firm will this week submit its ABS application.
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.
