Solicitors
Fancy joining the SRA board? Recruitment starts to introduce lay majority for first time
The introduction of a lay majority on the board of the Solicitors Regulation Authority moved a step closer yesterday after an advertisement for four new lay members and two solicitor members was published.
Good news day for solicitors: both strike-offs and negligence claims fall
The number of solicitors struck off in the year to March dropped by 43%, while the number of negligence claims against solicitors reaching the High Court has also fallen, a flurry of new figures have shown.
SRA board warned over financial advice confusion
Controversial proposals by the Solicitors Regulation Authority to end the requirement on practitioners to refer clients to independent financial advisers risk being misunderstood, a member of the SRA board warned last week.
SRA: nearly half of firms began COLPs and COFAs process in first month
Nearly half of all law firms have so far “engaged with the process” of appointing their COLPs and COFAs, the Solicitors Regulation Authority has revealed. Separately it laid out its imminent plans to survey every law firm about staff diversity.
Cost of practising as a solicitor to rise well above inflation
The cost of practising as a solicitor will rise well above inflation this year, mainly to ensure the Law Society has the funds to compensate the victims of fraud, but also to make up the cost of IT project overruns.
Law Society budgets for £10m deficit as Hudson receives 6.8% pay rise
IT project “cost overruns” have contributed to the Law Society budgeting for a £10m deficit this year, it has emerged. The 2011 accounts also reveal that chief executive Des Hudson received a 6.8% pay rise last year to £407,000 in total.
SRA mulls dropping requirement on solicitors to refer clients to IFAs
The Solicitors Regulation Authority is set to recommend dropping the controversial ban on practitioners referring clients to tied financial advisers. Solicitors would instead have to ensure that the client is involved in the decision-making process that goes into any referral.
Law Society to be spared annual internal governance check – because it is bound to fail
The Law Society will not be required to certify its compliance with the rules on internal governance because it is bound to fail the test, the Legal Services Board has decided. The board said the new governance arrangements are “somewhat fragile”.
Referral fee ban will not catch solicitors’ collective marketing schemes, Djanogly affirms
Justice minister Jonathan Djanogly has affirmed the government’s belief that the ban on referral fees will not catch solicitors’ collective marketing schemes, despite continuing concerns that the legislation does exactly that.
Tribunal suspends first solicitor called to account for breaching SRA settlement agreement
The Solicitors Disciplinary Tribunal has for the first time sanctioned a solicitor who breached a regulatory settlement agreement that ended a Solicitors Regulation Authority investigation into him.
Blog
Five golden links for a caring Christmas and New Year
This time of year always sharpens thoughts about how we look after and support elderly clients and those, elderly or otherwise, who find themselves in vulnerable circumstances.
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.
