Legal Services Act

The Legal Services Board has called on the government to support a bid by the Solicitors Regulation Authority for a massive increase in the amount it can fine law firms. The SRA wants to increase its power to fine law firms from £2,000 to £250m, and to £50m for individuals.

A leading insurance intermediary has agreed a £120m contract with the proposed alternative business structure (ABS) being put together by Quindell Portfolio. Quindell is awaiting SRA approval for its acquisition of Liverpool law firm Silverbeck Rymer.

Consumers using online legal services should have access to proper redress, the Legal Ombudsman has suggested. Adam Sampson said he was not convinced there is a difference between a legal product and a legal service.

The number of solicitor applications for a grant of probate has steadied after four years of decline and the profession should now target helping those who do it themselves, it was claimed yesterday.

Riverview Law has today launched a barrister-led service for high net-worth couples that it claims is the first to publish and guarantee the cost of divorce. The initial conference costs from £1,000 for a junior and £2,000 for a QC.

Twelve regulators and professional bodies from the legal, accountancy, financial and property sectors have finally signed a formal agreement aimed at co-ordinating the oversight of multi-disciplinary practices.

Kent Legal Services – the legal arm of Kent County Council – is planning to launch an alternative business structure in conjunction with regional law firm Geldards, it has emerged.

Solicitors Regulation Authority is acting unreasonably by leaving it to in-house lawyers to decide whether the law requires that their legal teams become alternative business structures, the Law Society has claimed.

The Legal Services Board has rejected criticism from the Bar Council over its use of leading City law firm Hogan Lovells during the investigation into changes to the cab-rank rule.

Leading Italian multi-disciplinary firm Pirola Pennuto Zei & Associati has applied to become an alternative business structure, it has revealed. Pirola wants allow accountants and lawyers in its London partnership to share revenues and profits.

The Solicitors Regulation Authority has given Australia’s Slater & Gordon the green light to take over Russell Jones & Walker after granting it the fifth alternative business structure licence. The move will kick-start a strategy that will include further acquisitions.

It is far too early to talk about winding down the Legal Services Board, its chairman has argued, while also criticising the Law Society and Bar Council for their failure to embrace independent regulation quickly enough.

A law firm that aims to offer a white-label personal injury service to insurers and brokers yesterday became the Solicitors Regulation Authority’s fourth alternative business structure, and first in Wales.

Four bodies have already put themselves forward to regulate will-writers following the Legal Services Board’s proposal that will-writing become a reserved legal activity, with all making their intentions clear at this week’s Legal Futures conference.

Riverview Law, the combined law firm and barristers’ chambers that sells fixed-fee advice to businesses, is to shift its strategy of organic growth to one of acquisition to meet unexpected demand just two months after it launched.