Legal Services Act
DAS buys law firm as it bids to build major consumer brand
Legal expenses insurer DAS has finally secured the law firm acquisition that will kickstart its bid to become one of the UK’s top legal services providers. DAS, which is owned by German insurance giant Munich Re, has bought Bristol law firm CW Law.
Number of private practice solicitors falls for first time as Law Society warns of ABS threat
The number of qualified solicitors in private practice fell last year for the first time since records began. A new legal service market assessment by the Law Society also warned that that a small number of successful ABSs could radically reshape the market for high street legal services.
Family office for wealthy Russians joins ABS ranks
A company that specialises in helping wealthy business people from Russia and Eastern Europe relocate to London has acquired an alternative business structure licence in order to add legal services to its business services portfolio.
SRA approach to referral fee ban receives LSB green light
The Legal Services Board yesterday put the seal of approval on the SRA’s plans to regulate the referral fee ban. The news came as the Law Society pressed the LSB to provide reassurance that the way referral fees are regulated will be consistent across the entire legal profession.
Liverpool firm launches “branded fightback” to ABSs with not-for-profit eLawyers scheme
A personal injury law firm has launched a co-operative group marketing scheme based on a TV advertising campaign potentially worth up to £2m. eLawyers aims to build regional panels of firms who will receive exclusive leads by area of legal specialism.
Firms unveil services to get closer to insurers as April reforms loom
Two law firms have made significant moves to align themselves with the insurance sector as the end of referral fees edges closer. Goldsmith Williams and Plexus Law have announced product launches as the race to be ready for the civil justice reforms gathers pace.
SRA hits out at LSB approach to regulation and ABS licensing
The Legal Services Board has overstepped its bounds, distorted the Legal Services Act’s regulatory balance, aligned itself too closely with the government, and intervened in matters beyond its competence, the Solicitors Regulation Authority has charged.
Top media firm and regional practice seeking external cash help take ABS total to over 100
A leading media law firm and a regional practice seeking minority external ownership to drive an acquisition strategy are among the latest alternative business structure approvals as the number of licences issued by the Solicitors Regulation Authority tops 100.
BT Law to have more than 100 staff as it targets expansion
BT’s new legal arm will have more than 100 staff once it is at full strength, its head of legal practice has revealed. Miles Jobling also expressed strong confidence that it would prove an attractive service to those seeking volume services.
Spend, spend, spend – Bar Council criticises LSB budget and accuses it of “mission-creep”
The Bar Council has renewed its assault on the Legal Services Board by questioning its decision to spend thousands on academic research into the cab rank rule and intervening in the Prudential case – which it said was proof of “mission creep”.
Blog
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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.
