Legal Services Act
Mayson warns regulators against denying ABS licences over access to justice fears
‘Advice deserts’ that appear as a result of competition brought about by alternative business structures cannot be dealt with effectively by regulators operating under the Legal Services Act, an academic study headed by Professor Stephen Mayson has argued.
Lawyers happier with LeO than complainants but malcontents on both sides see bias
Lawyers are a little happier with the service provided by the Legal Ombudsman (LeO) than complainants, new research has revealed. It also showed that just 27% of consumers were told about LeO by their lawyer, despite the mandatory signposting requirements.
Accountants launch bid to become ABS regulator, with 100 applications in the offing
Accountants could start offering reserved probate services to the public as soon as next autumn, the Institute of Chartered Accountants in England and Wales said yesterday as it submitted its application to become a regulator of probate services and alternative business structures.
Quindell gains ABS licence and says it can deliver profit under new costs regime
Quindell Portfolio has finally received its alternative business structure (ABS) licence and also predicted that it will be able to operate profitably within the new fixed fees and small claims structure put forward by the government.
Kiss and make up? Edmonds and Deech begin process of détente
The Legal Services Board has no agenda for fundamental reform of the profession and would like to see a new era of co-operation between frontline regulators on matters of common interest, its chair David Edmonds told barristers last week.
LSB urges conveyancing regulators to consider alternatives to client account
Regulators should explore alternatives to conveyancers holding client money in a bid to tackle the risks of fraud, the Legal Services Board has recommended. However, it found regulators are working hard at the issue and that it need not intervene any further.
Traditional firms “more innovative than ABSs”, says SRA, as it promises COLP/COFA reassurance
Innovations in legal practice are coming more from traditional law firms than from ABSs, the SRA said last week. Meanwhile, it will this week clarify the position of firms that have submitted COLP and COFA nominations but have not yet received approvals.
QASA: agreement reached but implementation delayed
Introduction of the controversial Quality Assurance Scheme for Advocates (QASA) has been delayed, it was announced today. It was meant to start at the end of January, but no new date has now been set as more details are worked out.
LSB to begin probe into whether ‘general legal advice’ should be reserved
The investigation of whether ‘general legal advice’ should become a reserved legal activity will begin next year, the Legal Services Board has revealed. It has also given a strong steer on what it hopes to see come out of the Legal Education and Training Review
Home-buyers have little interest in conveyancing from brand names, says survey
Just 8% of recent home-buyers would seek out a big brand such as the Co-op to handle their conveyancing the next time they move, a consumer survey has found as Conveyancing Association launched customer service ‘pledges’ that it says are a first for the industry.
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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.
