Costs lawyers “bullish” about impact of fixed costs extension
Costs lawyers have had a good year, with a healthy proportion reporting growth in excess of 10% and many bullish about the impact of more fixed costs, according to their representative body.
Leading firm fined £101,000 for anti-money laundering failures
A leading South-West law firm has been fined £101,357 for failing to act over money laundering red flags on three property transactions, two of which may have involved a sanctioned entity.
Legal Services Board eyes 14% increase in budget
The Legal Services Board is considering a 14% increase in its budget in a bid to strengthen its “direct oversight” of the frontline regulators’ performance.
SDT was wrong to slash SRA’s prosecution costs, High Court rules
The Solicitors Disciplinary Tribunal was wrong to slash the costs of the Solicitors Regulation Authority in a successful prosecution by 78%, the High Court has ruled.
Law firms “may avoid high-risk work” under new complaints rules
Law firms may avoid carrying out work in “high-risk sectors” under the new regime planned by the Legal Services Board for client complaints, the Law Society has warned.
Lawrence the ‘AI paralegal’ passes SQE with flying colours
An ‘AI paralegal’ has aced the Solicitors Qualifying Exam, demonstrating his functioning legal knowledge is in line with the regulator’s expectations of junior solicitors.
Tribunal approves first post-PACCAR litigation funding agreement
The Competition Appeal Tribunal has approved a litigation funding agreement that was amended to take account of the Supreme Court ruling in PACCAR.
MPs launch inquiry into lengthening probate delays
MPs have launched an inquiry into probate in the wake of mounting concern about how long the process is taking, with HM Courts & Tribunals Service admitting to rising levels of complaints.
Steady growth this year at two of UK’s listed law firms
Two of the profession’s AIM-listed law firms this week announced positive trading updates, with revenues up by 7% at Gateley and 6% at Knights.
Judge penalises claimant for “unrealistic” costs budget
A judge has penalised a claimant for submitting an “unrealistic” costs budget, saying he hoped it would encourage parties to negotiate them before reaching court.
