Law Society survey finds 20% pay gap between male and female solicitors
A gender gap in salaries continues to dog the solicitors’ profession, with men earning on average almost a fifth more than women, according to an earnings survey conducted by the Law Society. Meanwhile, a niche City law firm that shares its profit among all staff has paid out more than the equivalent of a year’s salary to every employee in four years.
Rebuke for solicitor who acted for clients when they could not afford his firm
An associate who acted for clients in his own time because they could not afford the fees of the firm he worked at has been rebuked by the Solicitors Regulation Authority. He charged the clients lower fees but was not authorised or insured to act.
Regional law firms “more positive about ABSs” than City counterparts
Regional law firms have a much more positive view of the impact of alternative business structures (ABSs) and other regulatory changes than City firms, a survey has found. It said 45% of regional firms described ABSs as having a positive impact on their practices, compared to only 18% of City firms.
Survey: Law firms see role for private equity funding to aid expansion
A third of senior managers at law firms expect private equity to be an important source of funding in the next few years, a survey has found. A quarter also believed that other financial investors, including high net-worth individuals or family offices, will play a key role.
Solicitor who “completely failed to carry out money laundering checks” is suspended
A former sole practitioner who “completely failed to carry out money laundering checks or prevent his client bank accounts from being misused”, and as a result saw hundreds of thousands of pounds pass through his firm, has been suspended by the Solicitors Disciplinary Tribunal (SDT).
Internet will control access to the law, says head of small business service
The Internet will take over as the main way SMEs and consumers access the law, the owner of the biggest online advice service for small businesses has predicted. Rory MccGwire said consumers would rely on a mixture of online DIY, telephone or online help, and lawyer-matching or comparison websites.
PI cold-calling ban will stay in place, says SRA, as Law Society steps up attack on Handbook rewrite
Fears that the rewritten SRA Handbook might not continue the ban on law firms cold-calling potential personal injury clients have been allayed by the regulator. Meanwhile, the Law Society has released an opinion poll showing public opposition to the SRA’s plan to allow solicitors to practise from unregulated businesses.
Slater & Gordon to sue over acquisition of Quindell’s professional services division
Slater & Gordon has announced that it is taking legal action against Watchstone Group – formerly Quindell – over its £637m purchase of Quindell’s professional services division last year. At the start of 2016 S&G unveiled a massive write-down of goodwill arising from the acquisition.
Gateley boosts property practice by buying firm of surveyors
Listed law firm Gateley has continued its acquisition of complementary businesses by spending up to £2m to buy a firm of surveyors that will work alongside its property practice. Hamer Associates specialises in easements and wayleaves, and compulsory purchase and compensation.
“Lawyers turn to us anyway” – accountants lay claim to probate work
It would be less stressful and less expensive for clients to use their accountants for probate work than solicitors, one of the leading accountancy bodies has claimed. Meanwhile, the head of an accountancy ABS said it made “little sense” for lawyers to handle uncontested probate work.
