Legal Services Act
Law firm mergers survive virus “shock”
Law firm mergers are still being planned, despite the coronavirus pandemic, although they may take longer to get over the line, experts have predicted.
Small firms “hit hardest” by lockdown
Small law firms have been hit hardest by the lockdown, a survey of the impact of Covid-19 on the profession has found but overall firms have “largely seen only a minor impact on business levels”.
Advocacy services firm becomes ABS
An advocacy services firm which attended over 6,000 hearings last year has become an alternative business structure so it can add qualified advocates to its team of solicitors’ agents.
New instructions “returning to pre-lockdown levels”
New instructions have been running at about 70% of the pre-lockdown level over the past two and a half months, but there are definite signs of a revival, with conveyancing roaring back, data shows.
LSB eyes major changes to legal regulation
The Legal Services Board is set to conduct a major review on the extent to which it can reform the regulatory regime – including the reserved legal activities – using its existing powers.
SRA to press ahead with launch of SQE in autumn 2021
The Covid-19 crisis will not stop the introduction of the Solicitors Qualifying Exam in September 2021, the Solicitors Regulation Authority has said as it published the exam’s final design.
Legal Ombudsman set for major leadership shake-up
The Legal Ombudsman is set for a major leadership shake-up in the wake of its recent budget debacle and following the decision of the chief ombudsman to leave.
New contracts firm puts paralegals in pole position
Two young paralegals have launched an unregulated legal contracts business which provides fixed-price services for mainly online businesses in the UK, the USA and Europe.
Black lawyers launch initiative to fight racial injustice
A group of lawyers has begun crowdfunding to support a new initiative aiming to combat racial injustice by facilitating access to justice, funding and legal representation.
Covid-19 impact: Firms “desperately need” new instructions
Some law firms suffered “serious falls” in revenue during May and, without a pick-up in new instructions in June and July, “the pain may become unbearable”, new research has warned.
Blog
Why this is the year for law firms to embrace generative AI
After more than a year of pilots, proofs of value and early experimentation, firms are increasingly embedding AI into day-to-day workflows.
Client account interest is not spare change
The proposed Interest on Lawyers’ Client Accounts scheme is being framed as a sensible, international, “tried and tested” way for the profession to help fund a justice system under strain.
The formula for finance-enabled business development
Client concentration or over-dependence now counts as a top strategic risk for 26% of firms. Cross-selling is an antidote – a way to bolster revenue resilience without relying on client acquisition.
