SRA rejects Law Society bid to extend indemnity run-off period by three years
The Solicitors Regulation Authority (SRA) has rejected a proposal by the Law Society to extend the additional indemnity run-off cover provided by the Solicitors Indemnity Fund (SIF) for a further three years until 2023.
LSB aims to present new government with “range of options” on future of regulation
Sir Michael Pitt, chairman of the Legal Services Board, said yesterday that he wanted to present the new government after next year’s general election with an agreed “range of options” for the future of regulation.
Peers highlight importance of senior legal figure at top of Ministry of Justice
There is a “distinct advantage” in having a Lord Chancellor from a “legal or constitution background” but it is not essential, the House of Lords constitution committee has concluded following its investigation into the role.
Quindell price nosedives again as Terry sells 25m shares
The share price of alternative business structure Quindell went into meltdown again today after it emerged that founder and former chairman Rob Terry has sold 25m shares over the last fortnight.
Calls for government to invest in online dispute resolution as part of digital legal services push
The government should invest in online dispute resolution for small claims – but not until 2016 so lessons can be learnt from pioneering projects in Holland and Canada, a major report has advised. Meanwhile, Professor Richard Susskind has called for ODR to be explored “urgently”.
New Bar leader: young barristers should take place of paid McKenzie Friends
Junior barristers should get themselves accredited for public access work and act in cases where people are currently relying on paid McKenzie Friends, the new Bar Council chairman has said as he promised to promote direct access to the public.
Olympic lottery boss takes over at Legal Ombudsman
Ian Brack, formerly chief executive and chief accounting officer of the Olympic Lottery Distributor, has been appointed interim chief executive of the Legal Ombudsman in succession to Adam Sampson after his resignation last month.
LeO names immigration barrister in first ‘public interest’ publication
The Legal Ombudsman has exercised for the first time its power under the Legal Services Act to name “in the public interest” a lawyer responsible for a series of complaints.
LSB foresees increased turbulence in market as more firms enter, exit and merge
There is set to be increased turbulence in the legal market, with more new entrants, consolidation and the exit of those who cannot adapt, the strategy director of the Legal Services Board has predicted.
Tax man gives solicitors three months to come clean on undeclared income
HM Revenue & Customs (HMRC) has opened up a three-month window for solicitors to own up to income they have not declared, or face tougher penalties if they are caught dodging tax.
