Legal Services Act
Commercial firms “surprisingly” confident of profitability hike
Two-thirds of commercial law firms are surprisingly confident of increasing profits by at least 10% in each of the next two years, despite concern about competition from ABSs, according to new research.
Accountants attack bid to pull them into regulatory net for will-writing and estate work
Accountants should be excluded from Legal Services Board plans to reserve will-writing and estate administration, their professional body has argued. Meanwhile, it is not yet clear whether the SRA will be allowed to regulate will-writers.
Extending LeO’s jurisdiction to claims managers may make things worse, Law Society warns
The problems claims management companies cause consumers will not be solved by giving the Legal Ombudsman jurisdiction over them – and may even be exacerbated, the Law Society has warned.
LSB: regulating will-writing and estate work will grow market and benefit solicitors
The reservation of will-writing and estate administration should boost the amount of work and allow existing providers such as solicitors to become more competitive, the Legal Services Board said today as it laid out how the regime will work.
City law firm to launch ABS integrating legal advice with HR consulting
A City-based law firm next week launches an alternative business structure (ABS) to offer employers a range of human resources consulting and ‘employee engagement’ services, integrated with its existing legal practice.
Where are the MDPs? Waiting for the accountants to start setting them up
There is so far little evidence that alternative business structures (ABSs) will spawn large numbers of multi-disciplinary practices (MDPs), and those that do are likely to be accountancy led, it was claimed yesterday.
Shoosmiths claims new bereavement service marks it out among law firms
Access Legal, the consumer arm of Shoosmiths, has launched a service to help the recently bereaved that it claims is unique among law firms. The ‘Bereaved Service’ is intended to provide a wide range of advice with no obligation to purchase any services.
Why external investors are eyeing up the criminal Bar
Unlikely as it may seem, external investors are showing an interest in the criminal Bar. The reason, explains John Binks, is the way Legal Services Commission payments are structured and the £70m of work-in-progress that barristers are now sitting on.
Parabis chief calls on SRA to keep pace with ABS ambitions and not stymie innovation
The operational end of the Solicitors Regulation Authority needs to keep pace with those at the top of the organisation who “embrace and encourage legal business innovation”, and not stymie the type of development the Legal Services Act is supposed to promote, the head of one of the major ABSs has said.
LSB’s “open debate” on cost of regulation throws spotlight on practising fee split
The possibility of the Law Society and other representative bodies being cut off from any of the money raised by practising fees has been raised by a Legal Services Board call for an “open debate on the cost of regulation”.
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.
