Solicitors
Solicitors and consumers split over widening ombudsman’s remit to unregulated providers
Solicitors and consumer representatives have come out on opposite sides of the Legal Ombudsman’s proposal to extend its remit to the estimated 130,000 unregulated legal services providers operating in England and Wales.
Barrister turned doctors’ regulator named as next SRA chief executive
Barrister Paul Philip has been appointed as the next chief executive of the Solicitors Regulation Authority. Mr Philip is presently deputy chief executive and chief operating officer of the General Medical Council, and will join the SRA on 1 February 2014.
Revealed: LSB legal director opposed approval of QASA
The legal director of the Legal Services Board disagreed with its decision to approve the Quality Assurance Scheme for Advocates because he wanted to ensure that the impact on judicial independence had been fully considered, it has emerged.
Lenders hit out at SRA over compensation
The country’s mortgage lenders have hit out at the Solicitors Regulation Authority for not being transparent in the way it runs its compensation fund, leading to a perception that lenders are being made to carry the can for solicitors’ wrongdoing.
Scots lawyers decide they don’t want separate representation after all
Scottish conveyancers have voted against the introduction of separate representation for borrowers and lenders – having initially called for it. At an SGM of the Law Society of Scotland yesterday, 847 were against a rule change to the conflict of interest rules while 671 were in favour.
Revealed: the law firms that still don’t have a COLP or COFA in place
More than a year on from the deadline for law firms to nominate their compliance officers for legal practice and for finance and administration, and 40 practices still remain without anyone in place, the Solicitors Regulation Authority has revealed.
From the naive to the desperate: SRA reveals anatomy of failing law firms
Misleading funders, inflating work-in-progress valuations and shortages in client account are among the common features of financially unstable firms that are currently under investigation by the Solicitors Regulation Authority, it has emerged.
LSB chair calls on Law Society and SRA to stop “spats”
The chairman of the Legal Services Board has criticised the “continuing spats” between the Law Society and Solicitors Regulation Authority. David Edmonds also praised the improvements made by the SRA to the process for licensing alternative business structures.
LSB bids to stamp authority on post-LETR reform agenda
The Legal Services Board is to issue statute-backed guidelines to compel legal regulators to follow its vision of how reforms resulting from the Legal Education and Training Review should be implemented.
SRA puts 1,200 firms on financial stability watchlist – how many more will join them?
The Solicitors Regulation Authority now has 1,200 law firms on its financial stability watchlist, with more likely to join it shortly, it has emerged. It follows the recent request for financial data from 2,000 practices.
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.
