News

Lesbian, gay and bisexual lawyers and staff could be inadvertently “outed” as a result of the Legal Services Board’s plans to increase diversity in the workplace, leading campaign group Stonewall has warned. The charity strongly supported monitoring the sexual orientation of staff but said the board needs to find another way of doing it.

A ban on referral fees is back on the Ministry of Justice’s agenda, a government adviser revealed yesterday. However, Mark Boleat told the Claims Standards Council conference in Manchester that he believed the arguments against a ban are “compelling”.

QualitySolicitors aims to be in nearly 1,000 locations across England and Wales by the end of the year as a result of expansion and its tie-up with WH Smith, chief executive Craig Holt has said. He revealed that the retailer is receiving a flat rental fee and no referral fees.

New entrants to the legal services market after October could have a significant advantage because they arrive with a fresh approach to IT, according to a leading commentator. Charles Christian said IT is at a “tipping point” where technology currently used by law firms is about to be superceded.

The Council for Licensed Conveyancers is investigating a new name for both itself and those it regulates as part of plans to attract alternative business structures shopping around for a regulator. It plans to use its position as an ABS licensing authority to strengthen and grow its “regulated community”.

Clients of law firms that provide retail financial services advice and convert to become alternative business structures could find themselves without access to a compensation fund or the firm’s professional indemnity insurance because of a hole in the Legal Services Act, it has emerged.

The Ministry of Justice is to review the international reaction to alternative business structures early next year, it announced yesterday. It will monitor “the international acceptance” of ABSs, with an initial review in February 2012.

The magic circle firms could be worth £6.7bn if they went public – equivalent to £3.9m for each partner – the first stockbroker assessment of the viability of law firm listing has estimated. An analyst note from Peel Hunt LLP said there is “a real economic case” to be made for public market listing.

Legislation to implement the legal aid and the Jackson reforms will be introduced to Parliament in the next few weeks, it has emerged. The Ministry of Justice’s updated 2011-15 business plan, published on Friday, says legislation will be introduced in June.

The Australian legal business consolidator Integrated Legal Holdings, one of the country’s (and world’s) two stock exchange-listed law firms, has announced a 96% increase in profits, and 18% rise in turnover, for the first half of its financial year.