Legal Services Act

The Legal Ombudsman (LeO) has suggested that conveyancers, rather than clients, should answer to HMRC when stamp duty payments fail to arrive.

Non-reserved legal activities within multi-disciplinary alternative business structures should be taken out of regulation by the Solicitors Regulation Authority, it proposed yesterday.

Alternative business structure Quindell’s bullish response to recent criticism has extended to the company now exploring the possibility of a dual listing in the US. However, Quindell’s share price has still to recover much of the ground lost in the last fortnight.

The Council for Licensed Conveyancers has become the first body to express disappointment with the Ministry of Justice’s announcement last week that it would not be making any major changes to the framework of legal regulation.

The North East Growth Fund (NEGF) is investing £150,000 in one of the country’s most specialised ABSs to pay for systems upgrades and new staff training provision.

Outsourcing giant Capita can complete its purchase of Optima Legal and Cost Advocates after the SRA today granted Optima an alternative business structure license.

Consumer demand for lower costs means the divide between solicitors and barristers will not be sustainable, the managing director of Slater & Gordon has predicted. Andrew Grech also told sceptics of his firm’s publicly listed status that business structures do not protect ethics.

Local authorities must have a “really clear rationale” before setting up ABSs to generate extra income, a leading public services lawyer has warned. Potential problems included conflicts of interest, confidentiality and indemnity insurance.

Control over the appointment of the next chairman of the Solicitors Regulation Authority was taken away from the Law Society yesterday after the Legal Services Board introduced new rules governing the process.

The outgoing chairman of the Legal Services Board has fired a parting shot at the Law Society and Bar Council – which he described as “two very strong trade unions” – for their “hostile attitude to change” and acting out of self-interest, rather than in the public interest.

Pioneering legal business Riverview Law has been granted an alternative business structure (ABS) licence, enabling it to own Riverview Solicitors. As of 1 June, Riverview Solicitors will merge into Riverview Law.

Six directors of alternative business structure Quindell plc – including the chairman and vice-chairman – have invested in extra shares as a display of confidence in the company.

A leading claims management company (CMC) has launched what is believed to be the first ever CMC partnership with a set of chambers. First4Lawyers has struck an agreement with Exchange Chambers.

Quindell plc is outperforming its two closest alternative business structure comparators – Slater & Gordon and NewLaw Solicitors – the AIM-listed company has told the market. Quindell also insisted that its model complies with the referral fee ban.

Quindell plc has begun legal action against those it believes have co-ordinated a “shorting attack” on its shares, the alternative business structure announced this morning.