Legal Services Act

The Legal Ombudsman is set to consult on allowing third parties to complain about lawyers in certain circumstances, it has emerged. It will also consult on establishing a voluntary scheme that enables unregulated providers to give their customers access to redress

The second alternative business structure to be set up by a US firm in the UK is considering a merger with a firm of forensic accountants, Legal Futures can reveal. Foran Glennon (UK) specialises in insurance work.

Partners in newly listed law firm Gateley will be able to sell 10% of their shares each year from next June as part of their five-year lock-in, it has emerged. The admission document that Gateley published as trading began in its shares this week revealed a plethora of detail about its operation.

The Legal Services Board has urged the frontline regulators to keep a close eye on ‘price transparency’ among lawyers in the wake of a Legal Ombudsman report that said a quarter of complaints it received were triggered by a lack of clarity over fees.

The price of shares in Gateley rose in early trading today as it broke historic new ground as the first UK law firm to list on the stock exchange. The AIM-listed business, which listed at 95p, saw its shares reach 110p initially before easing back to 99p by close of trading.

A registered charity has become a fully-fledged law firm in what is believed to be the first transformation of its kind, after it received approval from the Solicitors Regulation Authority.

The top five conveyancing firms handled 36% fewer transactions in the first quarter of this year, a report has found, and their market share dropped from 8% to 6%. On average, firms handled 14% fewer transactions and the number of firms also fell.

New-model practice Carbon Law Partners is set to launch a ‘white label’ service to enable foreign law firms to practise in England and Wales under their own brand, without having to seek regulatory approval or professional indemnity insurance in their own right.

Only 4% of complaints about claims management companies (CMCs) received by the Legal Ombudsman (LeO) relate to personal injury work, it has emerged, in the first release of figures since Leo began its new role.

Manchester-based Express Solicitors has bought 450 personal injury cases in pre-pack deal with a Cheshire sole practice. A spokesman for Express said Ashfields was now insolvent.

External investment rather than the number of alternative business structures is the key to changing the legal profession, a former president of the Law Society has said. Meanwhile, well-known ABS Knights has changed structure to retain more of its profit.

The Solicitors Regulation Authority has licensed a unique Chinese-owned alternative business structure targeting Chinese companies looking to invest abroad. It has been set up in association with Exeter-headquartered law firm Michelmores.

National law firm Gateley is looking to raise £30m from its imminent listing on AIM, documents filed at the London Stock Exchange today have revealed. The firm is due to list on 8 June with a market capitalisation of £100m.

A family law practice that specialises in acting for men and has more than 100 offices across the US has opened in London with the prediction that it could “very quickly dominate the UK market”. It is already running radio advertisements announcing its arrival.

Manchester-based Linder Myers is heading back into profit little more than a year after escaping administration, its chief executive has said. Tony Stockdale, chairman of consultants Assure Law, helped secure a refinancing deal with RBS in March 2014.