Solicitors
Law Society takes equity stake in compliance software business
The Law Society has taken the unusual step of investing in a company set up by a non-lawyer law firm partner to sell a groundbreaking web-based risk and compliance software package for solicitors.
Revealed: criminal Bar threatens JR over "unlawful and unworkable" advocacy scheme
The Quality Assurance Scheme for Advocates (QASA) is unlawful, unnecessary and unworkable and will be judicially reviewed if it goes ahead, criminal law barristers will warn this week in a response to the final consultation seen by this website.
SRA "hoodwinked" over financial services change, expert warns
The Solicitors Regulation Authority has been “hoodwinked” into changing its rules on referrals to financial advisers and risks involving solicitors in the mis-selling of investment products, a former senior financial regulator has claimed.
Relief for solicitors’ wallets as small number of firms apply to enter ARP
The number of applications from law firms to enter the assigned risks pool in its last year is back to pre-crisis levels, the Solicitors Regulation Authority has reported. This year the profession is liable to pay the first £10m in claims that arise from the pool.
SRA ‘unsure’ whether to act on complaints of loss-leader pricing by law firms
Complaints from competitors that a law firm is engaging in predatory pricing are difficult to deal with, the Solicitors Regulation Authority admitted last week. At the same time, regulators were urged to make it easier for firms to inform them about what other practices in their area were up to.
SRA independence still a concern as LSB keeps Law Society on report but eases demands
The Legal Services Board yesterday expressed continuing concerns about the independence of the Solicitors Regulation Authority from the Law Society. This has led the LSB to issue a new statutory notice requiring the society to provide it with information.
SRA throws weight behind global legal regulators' network
Legal regulators from around the world have agreed to create an information-sharing network as a first step towards the eventual formation of a global regulators’ organisation.
LSB: regulating will-writing and estate work will grow market and benefit solicitors
The reservation of will-writing and estate administration should boost the amount of work and allow existing providers such as solicitors to become more competitive, the Legal Services Board said today as it laid out how the regime will work.
Hundreds of firms face SRA enforcement action over COLP and COFA failure
Hundreds of law firms that have yet to nominate their compliance officers could soon face enforcement action, the SRA has warned. Separately the SRA is to conduct visits to 100 random law firms to check on their compliance with equality and diversity rules, while more than 10,000 solicitors have registered their intention to join QASA.
Law Society urges SRA to hold the line on independent financial advice
A Solicitors Regulation Authority proposal to scrap the ban on solicitors referring clients to tied financial advisers presents a “disproportionate risk” to both lawyers and clients, the Law Society has argued.
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.
