Legal Services Act
ABSs and phone-hacking highlight need for regulators to focus on ethics, says LSB report
The introduction of alternative business structures – along with scandals in other sectors – means regulators need to monitor ethics across the legal profession more closely, new research has argued.
ABS-in-waiting posts strong results as Admiral continues to consider its options
Prospective alternative business structure Quindell Portfolio plc – whose takeover of Liverpool law firm Silverbeck Rymer is awaiting approval – has more than £500m worth of new contracts under discussion, it revealed today.
Making alternative business structures work
Lawrence Cook, director of marketing and business development at Thesis Asset Management – which was once owned by and is still linked to south-east law firm Thomas Eggar – outlines their experience of joint ventures with solicitors.
Public sector ABS eyes external investment to expand
A specialist public sector law firm is eyeing up external investment so as to fund expansion, as well as strategic partnerships with others to secure market share, after becoming the newest alternative business structure.
Liverpool firm becomes first family law ABS
A Liverpool-based practice has become the first specialist family law firm to become an alternative business structure. Tracey Miller Family Law will use its new status to allow business development manager Anthony Hool to take a minority stake in the firm.
Leading conveyancing firms gain ABS status
Two of the country’s best-known conveyancing practices have become alternative business structures, while an insolvency and litigation practice has also achieved ABS status.
Legal Ombudsman to accept complaints about claims management companies
Claims management companies (CMCs) face the prospect of having to provide financial compensation to unhappy customers after the government announced today that they are to come within the remit of the Legal Ombudsman.
Income up sharply at pioneering ABSs
Two of the UK’s first alternative business structures – Slater & Gordon and Co-operative Legal Services – have reported strong increases in income, although profits at the Co-op have been hit by its expansion plans.
SRA places restrictions on Parabis’s offshore operations
The Solicitors Regulation Authority has placed controls around the Parabis Group’s offshore operation in South Africa, it has emerged. Parabis received its alternative business structure licence yesterday.
LSB warns regulators over referral fee ban as government unveils CMC crackdown
The Legal Services Board has warned regulators not to go further than the legislative requirements for the impending ban on referral fees in personal injury, calling for “a liberal approach” that does not prevent alternative business structures effectively circumventing it.
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.
