Legal Services Board
LSB launches formal probe into regulating will-writing, probate and estate work
The Legal Services Board today launched its first statutory investigation into whether to extend the scope of regulation, after its consumer panel recommended making will-writing a reserved activity. It goes further, however, by looking at what measures are required to protect consumers in the probate and estate administration markets as well,
SRA board moves to solicitor/lay parity with appointment of ex-LCS chief
The board of the Solicitors Regulation Authority this month moved to parity between solicitor and lay ordinary members, ahead of introducing a lay majority in two years’ time. Shamit Saggar, the former chairman of the Legal Complaints Service, joined the board this month as part of a deal with the Legal Services Board.
LSB may call time on separate business rule over fears it could inhibit ABSs
The rule which prevents solicitors and in the future alternative business structures (ABSs) from hiving off unreserved legal work into unregulated businesses may stifle new entrants to the market, the Legal Services Board has warned. The board is now considering a review of the rule’s “continuing relevance”.
Want to float your law firm? You need a business worth at least £75m, says banker
Law firms will need a turnover of at least £75m to list on the stock exchange, a leading investment banker said this week. This is because “the public markets prefer larger businesses at the moment” and smaller ones may struggle with liquidity.
A single regulator for all lawyers post-ABS is “logical and plausible”, says LSB report
A single regulator for all legal services is “logical and plausible”, but not inevitable, a report for the Legal Services Board has concluded. Former Ministry of Justice official Nick Smedley argued that the existence of multiple regulators “focused on the differences of individual practitioners” is unlikely to be relevant in a post-alternative business structures market.
ICAEW bids to regulate accountant-led ABSs on back of probate rights application
The Institute of Chartered Accountants in England and Wales (ICAEW) is investigating how it can license accountancy firms to become alternative business structures and provide legal advice to clients, Legal Futures can reveal. The ICAEW is set first to apply for the right to regulate its members to provide reserved probate activities.
New research on aptitude tests warns of potential inherent bias
There are a number of risks and dangers associated with using an aptitude test to select law students – particularly that it will favour those from privileged and certain class and ethnic backgrounds – a report commissioned by the Legal Services Board has concluded.
SRA receives green light to license ABSs
The Legal Services Board is to recommend to the Lord Chancellor that the Law Society – through the Solicitors Regulation Authority – become an alternative business structure licensing authority. However, there has been a disagreement over the separate business rule.
LSB to reduce levy on profession as Law Society reveals £57m surplus
The Legal Services Board is to reduce its funding call on the legal profession after coming in under-budget for the 2010/11 financial year. The news comes as the Law Society revealed a £57m surplus for 2010 and that chief executive Des Hudson enjoyed a 14% pay rise.
Public still want face-to-face legal advice in key areas, LSB research finds
Face-to-face advice remains important to clients in several key areas of legal work and can help ward off complaints, Legal Services Board research has found. The research by YouGov discovered face-to-face advice most prevalent in family matters and will-writing.
LSB: law firms failing clients on complaints
More than half of all legal providers are failing to meet requirements to provide clients with clear information on their complaints procedure – according to research from the Legal Services Board – which also shows that almost 70% of complaints against lawyers are upheld.
Solicitors make last-ditch bid to halt “unjustified” advocacy quality scheme
The Law Society has launched what appears to be a last-ditch bid to persuade the Legal Services Board to scrap the proposed scheme to assess the quality of criminal advocacy, saying there is no evidence to support the assertion that standards have fallen.
LSB slims down as members are reappointed
The Legal Services Board is to be slimmed down, and variable length terms introduced, after most of its members were reappointed. Chairman David Edmonds said he believed “we can operate at the same high level with a smaller board”.
Wood: LSB chief wrong to see disconnect between legal education and practice
Legal Services Board chairman David Edmonds is wrong to say there is a “disconnect” between legal education and legal practice, it was claimed last week by the man who has systematically reviewed the Bar’s education and training regime.
Planning to launch your ABS on 6 October? Think again as Kenny admits delay is likely
It is highly unlikely that the Solicitors Regulation Authority will be able to license alternative business structures on 6 October, Legal Futures can reveal. Legal Services Board chief executive Chris Kenny has admitted to us that getting the required orders through Parliament in time is looking “not impossible but very difficult”.
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.
