March of the accountants, part 3: EY gains ABS licence
The march of accountancy firms into legal services took a further step today when EY announced it had obtained a license from the Solicitors Regulation Authority (SRA) to set up an alternative business structure.
LSB may end SRA monitoring as turnaround time for ABS applications improves
The average time taken by the Solicitors Regulation Authority to approve alternative business structure applications has fallen to an average of three months, it has emerged. As a result the Legal Services Board may end its formal monitoring of the authority’s progress.
Report: artificial intelligence will cause “structural collapse” of law firms by 2030
Robots and artificial intelligence will dominate legal practice within 15 years, perhaps leading to the “structural collapse” of law firms, a report predicting the shape of the legal market has envisaged.
BSB suspends “bomb hoax” barrister
The Bar Standards Board has issued an immediate suspension order preventing barrister Michael Shrimpton from practising. Mr Shrimpton was convicted of communicating false information at Southwark Crown Court last week.
SRA uncovers “genuinely shocking” money laundering by law firms
Some “genuinely shocking” cases of money laundering by law firms are currently going through the disciplinary system, a senior manager at the Solicitors Regulation Authority has warned the profession.
Quindell scotches report of major contract loss
Alternative business structure Quindell has quashed a news report of more problems for the AIM-listed company which led to a late dive in its share price yesterday. The share price was up sharply in early trading.
Better late than never: MoJ finally publishes report on litigants in person
The Ministry of Justice has finally published a report it commissioned on litigants in person – more than a year after it was submitted. The report criticised the Legal Services Consumer Panel for calling for greater recognition for paid McKenzie Friends.
Hodge Jones & Allen wins second apology from The Times
London law firm Hodge Jones & Allen has this week received an apology and “substantial” damages from The Times newspaper over a front-page article which claimed the firm was being sued by a former client for negligence in relation to a MMR vaccine claim.
LSB rejects plan to cut indemnity cover limit
The Legal Services Board (LSB) has rejected plans by the Solicitors Regulation Authority (SRA) to cut the indemnity cover limit for law firms from £2m to £500,000.
SRA to consult profession and public on ethical values
The Solicitors Regulation Authority is planning a major consultation on ethical values with the profession and the public next summer, chief executive Paul Philip announced yesterday.
