Legal Services Act
Listed legal business eyes revenue diversification
RBG Holdings plc is aiming to broaden its non-legal offering and reduce its reliance on the revenues of City law firm Rosenblatt, it said today as it announced strong results for the 2019 financial year.
National Accident Helpline furloughs staff as enquiries fall
NAHL – the listed company that owns National Accident Helpline – announced yesterday that it has furloughed a third of its staff amid a fall in personal injury enquiries.
Coronavirus update: AML warning, property help, and more
Criminals are exploiting the coronavirus crisis and law firms may be more susceptible because of the financial pressures they are under, regulators have warned as we round up other key developments.
SRA: Legal Services Act regime “struggling to remain relevant”
The rate of change in the legal market makes it “increasingly difficult” for the regulatory framework laid down by the Legal Services Act to remain relevant, the Solicitors Regulation Authority has warned.
Majority of firms have furloughed staff, survey finds
Most law firms have implemented a furloughing strategy, looking at reductions of up to 40% in headcount to survive the coronavirus crisis, while partners are reducing drawings too, according to a survey.
Tax schemes “discourage investment” in legal start-ups
Government schemes to help SME companies grow by offering investors tax relief exclude legal businesses and so constrict technological innovation in the market, it has been claimed.
LeO weighs using big data to aid decision-making
The Legal Ombudsman is exploring whether to use big data and machine learning technology to suggest outcomes and make recommendations in resolving complaints about lawyers.
Week 3 of lockdown: Dark clouds of cash flow gather
Week three of lockdown saw the start of a cash squeeze on law firms, with no money yet from the government, and predictions of a grim summer, according to research.
Susskind: No return to old ways after Covid-19 crisis
Many of the technologies and techniques that have been “forged in the heat” of the coronavirus crisis will usurp old ways of practising when life returns to normal, Professor Richard Susskind has predicted.
Firm that was ‘future of criminal practice’ is wound up
A North-East law firm that pitched itself as the future of criminal legal aid practice a decade ago by combining barristers and solicitors was formally wound up last month.
Blog
On good authority? GenAI and the reputational risks to law firms
As GenAI’s influence grows, so do the risks which are already playing out in courtrooms across England and Wales, where some early adopters are setting precedents they would rather not.
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.
