LSB and SRA accused of putting too much emphasis on competition
Both the Legal Services Board and the Solicitors Regulation Authority are putting too much emphasis on promoting competition at the expense of the other regulatory objectives they are meant to uphold, the Law Society has claimed. But the SRA has said its plan to allow practising solicitors to operate from unregulated businesses is “overdue”.
More dire results for Slater & Gordon as it admits survival depends on lenders
Slater & Gordon will not be able to pay off the bank debt that falls due next year and will need the continuing support of its lenders “to continue as a going concern”, it admitted today while unveiling more disastrous financial results that showed a 38% fall in income in the UK.
In-house lawyer wins tribunal agreement to remove practising restrictions
The head of a council’s child protection legal team has successfully removed all the conditions on his practising certificate imposed by the Solicitors Regulation Authority in the wake of a finding against him by a disciplinary tribunal.
Magic circle firm adopts AI to simplify complex compliance issue
Magic circle law firm Clifford Chance has for the second time in four months deployed artificial intelligence in a standalone product aimed at assisting clients to comply with complex regulatory changes. It has devised an online tool to enable financial institutions to make sense of MiFID2.
PI reforms boost NAH share price but provoke fury from claimant lawyers
Shares in legal marketing business NAHL plc – owner of National Accident Helpline – leapt 20% yesterday on the back of the government’s plans to reform low-value personal injury claims, one of the few positive reactions to the news from the claimant side.
Lawyers will be able to replace work lost to online court, says government
Lawyers should be able to replace any work lost to the online court with other cases, the government said yesterday, although it did not suggest how this would be done. The blithe statement came in an impact assessment published alongside the Prisons and Courts Bill.
Study finds AI and other technology less of a threat to lawyers’ jobs than believed
Technology is displacing lawyers’ jobs at a slower pace than often thought, with most areas of legal practice at only low or moderate threat from encroachment by software, according to a study. It also called for effective professional regulation of legal technologies to protect clients and the values of legal systems.
Leading legal aid firm rebuked after paying referral fees for domestic violence clients
Leading legal aid law firm Duncan Lewis has been sanctioned for breaching the rule that prohibits paying referral fees for legally aided clients. The rebuke and £2,000 fine is the most that the Solicitors Regulation Authority can do without referring the firm to the Solicitors Disciplinary Tribunal.
PI reforms in full – fixed whiplash damages to begin at £225, 1 October 2018 start date
The personal injury industry has 19 months to prepare for the reforms announced by the government today, with the newly published damages tariff showing that those with the most minor injuries arising from a road traffic accident – and not just whiplash – will receive just £225 in compensation. We highlight the key decisions in the detailed response to the whiplash consultation.
Private equity takes next step in the law with acquisition of leading family practice
Stowe Family Law – which claims to be the largest specialist family law firm in the country – has become the latest legal practice to accept private equity investment after signing a deal with mid-market backer Livingbridge. The plan is to build a “larger national footprint”, opening up to 30 additional offices over the next five years – it currently has 10.
