LSB to lead push for “minimum disclosures” by law firms on price and service
The Legal Services Board has said it expects frontline regulators to introduce compulsory “minimum disclosures” by law firms on price and service. The LSB was responding to the Competition and Market Authority market study of legal services.
SRA attacks “disproportionate and unnecessary” money laundering regulations
New anti-money laundering regulations planned by the Treasury would impose “disproportionate and unnecessary” burdens on law firms, the Solicitors Regulation Authority has warned. It was particularly unhappy about a ‘criminality test’ for lawyers.
New system sees insurers refer 26 law firms to SRA over fraud fears
Insurance companies have referred 26 law firms to the Solicitors Regulation Authority in recent months through a new process that aims to “better facilitate exchange of information” between the regulator and the Insurance Fraud Bureau, it has emerged.
Tribunal lays out Clyde & Co’s “glaring” failures
The failures which led to a record fine for Clyde & Co were “particularly glaring” as it was “a large and, previously, reputable firm”, the Solicitors Disciplinary Tribunal has declared in approving the sanction. It emerged earlier this month that the City practice had been fined £50,000 but the full ruling has only just been published.
ABS start-up led by CILEx Fellow bids for rapid growth
A chartered legal executive has launched a start-up alternative business structure specialising in personal injury but with ambitious plans for expansion into a variety of legal areas, including sports law.
Will pre-election ‘wash-up’ wash out the government’s PI reforms?
Today’s decision to call a general election could give claimant personal injury lawyers breathing space in their fight against the government’s reforms, as ministers now have just a fortnight to ram the Prisons and Courts Bill through Parliament or the legislation will be lost.
ABS update: council bids to “commercialise” legal services, as virtual firm eyes investment
A local authority in Surrey is eyeing up an alternative business structure so it can “commercialise” its legal services in the wake of a partnership with another council coming to an end. Our latest ABS round-up also includes a virtual firm looking for investment to expand, a major deal for a leading probate ABS and a heavyweight appointment.
Tribunal sanctions partners who borrowed from Axiom fund at second time of asking
Two partners found by the High Court to have displayed “manifest incompetence” in accepting £573,000 lent to their law firm by the controversial Axiom Legal Financing Fund, have been respectively suspended and fined by the Solicitors Disciplinary Tribunal.
SRA fails in bid to recover £800,000 of intervention costs from Blavo & Co owner
A bankruptcy judge has set aside statutory demands worth nearly £800,000 issued by the Solicitors Regulation Authority against the founder of collapsed firm Blavo & Co, which were to cover the cost of shutting down what was the UK’s leading mental health practice.
Exclusive: Here comes Billy, the robot junior clerk
Innovative chambers Clerksroom is building Billy.Bot, a ‘robot junior clerk’ that will do the work of a traditional barristers’ clerk and also provide basic legal information to online users, Legal Futures can reveal. That is, except for taking a cut of barristers’ earnings.
