Legal Services Act
Accountants' ABS ambitions hit by new EU audit rules
The ambitions of larger firms of accountants to offer legal services have become more complicated after the European Commission announced plans to stop auditors offering non-audit services. If it becomes law, the move will lead to the break-up of the ‘big four’ accountants into audit and consultancy businesses.
Law firm investor in talks with more than 25 practices
The first business to announce its intention to invest in law firms has already spoken to more than 25 interested practices, it has revealed. However, In-Deed’s half-year results have revealed a very slow start to its online conveyancing business, with only 120 instructions in four months.
Government, LSB and Law Society join forces to take pre-ABS temperature of high street law firms
The Legal Services Board is joining forces with the Ministry of Justice and the Law Society to ask 2,000 high street law firms how ready they are for the introduction of alternative business structures. It will form part of what is likely to be the largest ever survey of high street legal provision.
DAS buys Everything Legal as it prepares for ABS conversion
Legal expenses insurer DAS has taken the next step in its preparations to become an alternative business structure by acquiring online legal services company Everything Legal, which owns legal advice website Law on the Web. It will give DAS a strong direct route to market.
Law Society revokes 200 solicitors' accreditation scheme membership
The Law Society has recently revoked the membership of 200 members of its accreditation schemes, it has revealed. The society was responding to the surprise expressed last week that it had not appeared to expel anyone from any accreditation scheme over the past five years.
Regional accountancy firm unveils plan to become ABS
A regional firm of accountants is planning to become an alternative business structure (ABS). Becoming an ABS will allow Spofforths to improve the private client service currently provided by an in-house legal team and in time become a legal brand in its local market.
Consumer panel: strip incompetent QCs of their rank as part of bid to improve quality marks
QCs should lose their title if they fall below an acceptable standard, the Legal Services Consumer Panel suggested today in a report that calls on legal bodies that run voluntary quality schemes to improve checks on lawyers’ continuing competence so as to boost consumer confidence.
LASPO critics ignoring impact of ABSs on changing the legal profession, minister claims
Lawyers complaining about the Legal Aid, Sentencing & Punishment of Offenders Bill have not considered the impact of ABSs in changing the way the legal profession works, justice minister Lord McNally said yesterday. However, the second reading of the bill raised the possibility of a concession over removing clinical negligence from legal aid and of further regulation of third-party funding.
HighStreetLawyer begins to build national network after successful pilot period
HighStreetLawyer.com (HSL) has added five new firms to its nascent national legal network after its successful pilot phase, Legal Futures can reveal. HSL is also relaunching its website today as part of the ambition of founder Gary Yantin to reach 100 branches by the end of 2012.
Acorn Law to launch into PI market with pledge not to pay or charge referral fees
The first law firm launched in direct response to the government’s decision to ban referral fees in personal injury cases is set to go live. Acorn Law is pledging not to pay referral fees or charge them to other suppliers.
SRA on track after ABS regime clears final parliamentary hurdle
The final legislative obstacle to the Solicitors Regulation Authority licensing alternative business structures was removed on Tuesday when the House of Lords approved secondary legislation on non-lawyer owners’ disclosure of criminal convictions and appeals against ABS licensing decisions.
Fine for first solicitor taken to court by LeO – but judge says prison may be right for others
A solicitor has for the first time been fined by the High Court for failing to co-operate with an investigation by the Legal Ombudsman. The High Court used the case to stress that such failures could also lead to immediate imprisonment.
Profit margins slide at big firms as ABSs hove into view
Profit margins among all but the elite of the top 100 law firms have dropped significantly over the past five years, new research has revealed, with the introduction of alternative business structures set to pressure them even more.
Ombudsman should have jurisdiction over will-writers and not-for-profits, says report
The Legal Ombudsman should press to extend its jurisdiction to complaints about non-lawyer will-writers and the not-for-profit sector, while the government needs to review its inadequate powers over complaints against CMCs, a study has recommended.
In-Deed: we will invest in law firms to build consumer legal brand
AIM-listed In-Deed has today become the first business to announce its explicit intention to invest in law firms. The company is looking for approaches from “successful and profitable provincial legal practices” to help make In-Deed a leading consumer legal brand.
Blog
Automation in personal injury claims: The evolving legal risks
As automation tools become more sophisticated, they are increasingly used for more complex tasks, such as interpreting evidence and informing case strategy, particular in the PI sector.
A new era of legal operations
What we are seeing in the UK legal market is extraordinary change that will greatly influence how firms operate and compete for years to come.
Strong AML controls are meaningless with incomplete data
One expectation as the FCA takes control of anti-money laundering oversight is a move towards more supervision rather than simply writing new rules.
