Practice Management
LSB approves separation of compliance and management roles
The Legal Services Board has approved rule changes to separate law firm managers who can “unilaterally” make decisions from compliance officer roles in all but the smallest firms.
Second deal in a month for new ‘buy and build’ legal group
The new legal group backed by a private investment office and aimed in particular at law firms with succession issues has made its second acquisition.
SRA warns over “emerging” money laundering risks for law firms
Acting for cash-intensive high street businesses and relying on existing due diligence are “emerging” risks in the fight against money laundering, the SRA has warned.
Minster Law unveils acquisition to accelerate major growth plan
Personal injury firm Minster Law has followed up its plan to more than double its turnover in five years by acquiring ARAG Law’s PI business.
Top offshore business takes minority private equity investment
Mourant – the offshore group combining legal, governance and consulting services – has taken minority investment in a deal that could open up options for other large firms.
New model complaints procedure “does not guarantee compliance”
The Legal Ombudsman has warned lawyers that using its new model complaints resolution procedure is not “a proxy” for regulatory compliance.
Boosting self-worth leads to higher fees for law firms
Lawyers need to boost their feelings of self-worth so that they do not crumble in the face of – or even before – client demands about fees, an adviser has urged.
PwC: “Meaningful barriers” to automating most legal work
With most law firms rapidly adopting AI, new research by PwC has shown that 80% of legal work faces “meaningful barriers” to full automation.
Non-lawyer men leading AI charge at biggest law firms
Most top UK and US law firms now have a senior executive tasked with overseeing their use of AI – but only a third are lawyers and a quarter are women.
Second acquisition in five months for PE-backed group
The law firm at the centre of private equity-backed Adeptio Law Group has made its second acquisition of the year.
Blog
Beyond the PII premium – rethinking risk
Professional indemnity insurance renewal is often treated as an annual pricing exercise. But it is also a chance to show how effectively you identify, manage and mitigate risk.
The AI governance gap in law firms and why it matters now
A third of law firms are already using AI tools with no formal policy in place to govern how AI gets used, what data goes into it, or who’s accountable when something goes wrong.
Information isn’t oversight – lessons from the PM Law review
The PM Law review’s real findings perhaps point to a failure mode applying to any organisation sitting on scattered risk information.
Reports
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