Solicitors
SDT rulings send out warning to law firms over relationships with debt recovery companies
Law firms must not allow arrangements with debt recovery companies to compromise their independence, the Solicitors Regulation Authority has warned, after two solicitors were fined heavily for allowing litigation to be carried out in their name.
Thirty of top 200 on SRA list of financially unstable firms
Around 30 of the top 200 law firms in England and Wales are under intensive supervision from the Solicitors Regulation Authority (SRA) because of fears about their financial stability, it emerged yesterday.
SRA uncovers 205 more firms to probe over lack of compliance officers
The Solicitors Regulation Authority (SRA) is working its way through the hundreds of firms and individuals facing enforcement action over compliance officer failures – but has now found another 205 firms that require investigation.
Referral scheme offers “lifeline” to PI solicitors
A scheme that offers solicitors a “lifeline” by enabling them to continue working with personal injury referrers was launched today by well-known legal IT firm Epoq. The company has created LegalGo, a free legal assistance plan.
SRA: plenty of firms breaching the referral fee ban
A significant number of businesses involved in the personal injury market have been acting in breach of the referral fee ban since it came in on 1 April, the chief executive of the Solicitors Regulation Authority warned yesterday.
SRA warns solicitors off ‘get rich quick’ SDLT and referral fee schemes
The Solicitors Regulation Authority has warned law firms under financial pressure against becoming involved in schemes that “manage” the ban on referral fees or promote “improper” ways to avoid stamp duty land tax.
Law Society backs SRA “raid” on compensation fund but calls for alternatives to intervention
The Solicitors Regulation Authority needs to consider alternatives to intervening in failing law firms, the Law Society has said, while accepting the “emergency” need for the regulator to dip into the Compensation Fund to pay for the unexpectedly high cost of interventions this year.
SRA under fire for policing of referral fee ban and insurer/law firm ABSs
The Solicitors Regulation Authority came under fire this week for the way it is enforcing the referral fee ban, with its director of policy and strategy unable to tell solicitors how many investigations it has started since the ban came into force seven weeks ago.
Solicitors’ support for OFR crashes
A Law Society survey finding that a growing number of senior solicitors think outcome-focused regulation places too heavy a burden on firms has drawn a rapid rebuttal from the Solicitors Regulation Authority.
Unanimous South Eastern Circuit backing gives green light to QASA boycott
The prospect of barristers boycotting the Quality Assurance Scheme for Advocates became almost certain on Saturday after all but one of more than 1,000 members of the South Eastern Circuit said they would refuse to sign up to it.
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.
