Solicitors set for client account alternative this year
Solicitors will soon be able to ditch client accounts and instead use “third-party managed accounts”, their regulator has revealed. THe SRA said the use of such accounts may offer a lower-cost alternative that continues to provide appropriate protection.
SRA pokes hornets’ nest as it asks whether to drop referral fee ban in legal aid cases
The Solicitors Regulation Authority yesterday started an “open” debate about allowing solicitors to pay referral fees for legal aid and criminal work, saying the present ban acts as a barrier to consumer choice. The move is likely to be met with anger by the Bar Council.
Unnecessary ABS approval rules to be scrapped in latest regulation bonfire
The rule which requires the Solicitors Regulation Authority to approve the individuals who own companies that in turn own alternative business structures is set to be scrapped. The requirement for firms to keep a record of non-material breaches of the SRA Handbook may also go.
Almost half of law firms say PII brokers failed to disclose commissions
Almost a half of law firms using insurance brokers to secure their indemnity cover in last year’s renewal said brokers failed to reveal their commissions, a Law Society survey has revealed.
Global insurance giant backs legal business’s ambitious growth plans
Insurance giant Markel has laid out its plans to rapidly expand LHS Solicitors, an alternative business structure which combines the law firm and legal helpline it bought last year as part of its acquisition of Abbey Protection Group plc.
First solicitor is admitted through ‘equivalent means’ route
Robert Houchill, a senior paralegal at London law firm Bates Wells Braithwaite, has become the first solicitor to qualify through the ‘equivalent means’ route. He said the new route would give law graduates more flexibility in funding the legal practice course.
Single statement of skills for solicitors and barristers “not possible”, BSB admits
The Bar Standards Board (BSB) has said that producing a “common document” on the knowledge and skills required by solicitors and barristers has “not proved possible”.
Globalisation changes “leaving ethics debate behind”
A high-powered trio of senior lawyers have kick-started what they hope will become a wider debate on the ethical dimension of lawyers’ professionalism amid heightened competition among law firms in an increasingly globalised marketplace.
Lawyers to be offered new .law domain names
Law firms, legal publishers, law societies and bar associations will be able to reserve web addresses using the new generic domain name .law for $200 (£135) a year, it has emerged.
SRA warns firms against misleading marketing as inducements ban kicks in
The Solicitors Regulation Authority has warned law firms against misleading publicity as the government’s ban on the use of inducements by personal injury solicitors came into force yesterday.
