Legal Services Act
City firm sets up ‘cheaper’ subsidiary for hedge fund clients
City law firm FieldFisher has set up a separate practice with lower overheads to attract hedge fund clients who could not afford its fees. It is the latest “alternative solution” created by the firm.
Top law firm pays £3.5m for misleading US government
One of America’s most prestigious law firms has agreed to pay $4.6m and register as a ‘foreign agent’ after admitting to misleading the US government over work done for Ukraine.
Virtual firm adds share ownership to model
A new-model law firm has joined the growing band of practices that offer lawyers and staff a share ownership scheme, and has seen investments ranging from £2,500 to £120,000.
Tax consultancy sets up ABS to become one-stop shop
A tax consultancy has set up an alternative business structure to create a “one-stop shop” for independent contractors seeking advice, saying ABSs had made the law more entrepreneurial.
Unlawful service of claim by unregulated person still valid
It was wrong to punish a litigant in person who used an unregulated business to serve a claim, even though this was the unlawful conduct of litigation, the Court of Appeal has ruled.
Exclusive: Large PI firm begins three-year voluntary wind-down
Well-known personal injury law firm Camps is to run its practice down over the next two to three years, with 50 redundancies on the cards immediately, Legal Futures can reveal.
Third deal in eights months for Knights as it unveils strong results
Knights has reported strong growth in its maiden half-year results as a listed law firm along with its third acquisition in eight months – a £1.6m deal to buy a specialist employment practice.
SRA “not sufficiently transparent” in explaining decisions
The Solicitors Regulation Authority is “not sufficiently transparent” in explaining its decisions at board level, the Legal Services Board has said, while ticking off other regulators too.
NAH issues profit warning as third ABS receives green light
NAHL plc, the company behind National Accident Helpline and co-owner of two alternative business structures, failed to meet its financial targets last year, it told investors today in a profit warning.
“Nine in ten legal tech start-ups will fail”
Nine in ten legal tech start-ups will fail and private equity will target alternative legal services providers, a global legal outsourcer has predicted.
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.
