Solicitors

The latest part of my series looking at who is making the decisions for the legal profession reaches the board of the Solicitors Regulation Authority. The second iteration of the board, the 16 members took over in January this year and the make-up was seen as very City-heavy to compensate for the previous board, which was thought to be too light on City understanding and representation. It has arguably gone too far the other way now.

The will-writing debate moved towards the end-game today after the Legal Services Consumer Panel launched its investigation into whether the industry should be regulated. However, the Legal Services Board is currently trying to secure £110,000 in funding for the panel to undertake market research.

The Solicitors Regulation Authority and Bar Standards Board are in discussions about creating a joint online consumer network involving the general public, Legal Futures has learned. The move follows pressure from the Legal Services Consumer Panel for the frontline regulators to improve engagement with consumers

The Law Society has rejected Legal Services Board (LSB) calls to introduce a lay majority on the board of the Solicitors Regulation Authority before 2013, Legal Futures can reveal. The move is likely to lead to a stand-off with the LSB that could end up in the courts, with the society warning that it reserves the right to challenge any formal action which the LSB takes against it as a result.

The High Court has granted the first order requiring a third party to provide the Solicitors Regulation Authority with information, it has emerged. SRA papers reveal that the High Court granted the order against a bank to assist in a serious and continuing investigation.

Our weekly round-up of other useful news and articles highlights worries that criminals are targeting failing law firms, accountants wanting more of the legal services market, concerns over new conflicts rules, a call to change the terms of PII cover, the need for more ethics guidance around LPO and much more.

The Council of Mortgage Lenders is investigating the case for making title insurance compulsory for all conveyancing transactions, it has emerged, as a Law Society committee said it should be looked at as a way to reduce solicitors’ professional indemnity insurance premiums.

The Solicitors Regulation Authority has been forced “under duress” to approve a rule change under which solicitors will have to inform existing clients of their right to complain to the Legal Ombudsman, despite efforts to persuade the Legal Services Board to change its position.

The Solicitors Regulation Authority is to revisit at its next meeting the question of whether to relax its rules on preparations in advance of the launch of alternative business structures next October.

The Law Society is considering introducing an aptitude test for entry onto the legal practice course that will reduce student numbers, Legal Futures can reveal. Other initiatives being examined are a “warts and all” guide to qualification as a solicitor and incentives for firms to provide training contracts.

The controversial prospect of publishing law firms’ complaints records will be put firmly back on the agenda with a consultation by the Legal Ombudsman, Legal Futures can report.

Law firms preparing to become alternative business structures should not enter into binding contractual agreements with prospective external owners, the Solicitors Regulation Authority is likely to warn this week.

Almost half of the law firms in the assigned risks pool (ARP) still owe premiums running to millions of pounds, although the ARP enforcement strategy has encouraged some to pay up, it has emerged.

The Legal Services Board is pushing ahead with plans to require law firms and chambers to publish comprehensive diversity and class information about their staff from next year, Legal Futures has learned.

QualitySolicitors experienced an “unbelievable spike” in web traffic and calls following its primetime television advert last week, even though it was aimed more at brand awareness than direct response, founder Craig Holt has reported.