COFA sanctioned for “misappropriating” £120,000 from firm
A compliance officer for finance and administration at a Lincoln law firm has agreed to have his activities in the profession restricted after admitting to misappropriating £120,000 in a rare regulatory settlement agreement involving a non-solicitor.
Court of Appeal overturns dishonesty findings against solicitors
Findings of dishonesty, especially against solicitors, should not be made without “the most careful consideration” of what they say in their defence, appeal judges have warned in a case in which they overturned a High Court decision that two solicitors were guilty of “dishonest assistance in a breach of trust”.
Barristers at risk of being squeezed out of market, regulator warns
Barristers are at risk of being “squeezed out of the market by a declining case load, a surfeit of barristers and increasing competition from both other regulated legal professionals as well as unregulated service providers”, the Bar Standards Board has warned.
Commercial law firms must seize “window of opportunity” to adopt new delivery models
Commercial law firms have a limited “window of opportunity” to adopt new delivery models which is unlikely to “remain open forever”, a report has warned. Jomati Consultants also revealed that four City firms are on course to receive almost £8m in government grants as a result of opening low cost centres.
Law firm incomes up by over 5%, Law Society survey indicates
Law firms are “in good shape financially”, with median income increasing by 5.4% last year, according to Law Society research. The survey found the median fee income for a partner had reached almost £620,000 and a solicitor almost £118,000 – but more partners than last year are drawing too much.
Judge complains of “too many swindlers” after wrongly questioning status of solicitor
A judge who wrongly questioned the status of a solicitor after doing his own research on the Law Society’s website, has been criticised by the Court of Appeal. The judge at Central London County Court complained that he had prosecuted “too many swindlers” as a barrister, and was “naturally suspicious of everybody, particularly in this court”.
SRA and Law Society at loggerheads again over independent regulation
The general public strongly supports the notion of full separation of legal regulators from professional bodies, according to the results of an opinion poll commissioned by the Solicitors Regulation Authority (SRA). The Law Society hit back by appearing to suggest an SRA stripped of its power to set solicitors’ standards should be merged with other legal regulators.
Small law firms have most to lose from SQE, leading academic warns
Small law firms have the most to lose if a Solicitors Qualifying Examination is introduced as it may downgrade the value of being part of the profession, a leading legal academic has warned. Professor Anthony Bradney said the exam could be a way for solicitors to “very rapidly lose their reputation”.
Solicitor who fabricated documents in bid to deceive tribunal and opposing lawyers struck off
The Solicitors Disciplinary Tribunal has struck off a solicitor who failed to meet a deadline to submit applications to the First-tier Tribunal, and then fabricated documents which purported to show that he had, in an attempt to deceive both the tribunal and the other side.
Legal Services Board tells CMA: long way to go until law has effective competition
There is still a long way to go before there is “effective competition” in the legal market, the Legal Services Board has told the Competition and Markets Authority. The oversight regulator urged the CMA not to rule out the possibility of conducting a full market investigation at this stage.
