Put duty on all legal services regulators to promote economic growth, says SRA
All the legal services regulators should under a new duty to “have regard to the desirability of promoting economic growth”, the Solicitors Regulation Authority has said. They should also appoint small business champions.
Court Appeal overturns ruling that law firm wrongly paid out £2.3m from client account
The Court of Appeal has overturned a High Court decision that a Sussex law firm wrongly paid out £2.28m it had received from a group of investors in what turned out to be a doomed airport investment scheme.
Survey reveals poor morale of public sector lawyers
Fewer than half the lawyers in central and local government are satisfied with their jobs and only a third with their pay, research by the Law Society has revealed.
First ABS attached to a barristers’ chambers launched in Liverpool
Liverpool-based 7 Harrington Street Chambers has launched what is believed to be the first alternative business structure attached to a barristers’ chambers. It opened for business last week, with three barristers and 7HS practice director as its directors.
Morgan Stanley’s Quindell hokey cokey – you put your money in, then take it out
Morgan Stanley has dumped Quindell stock just four days after becoming the alternative business structure’s second largest shareholder, it has emerged. Quindell’s shares jumped on Monday after announcing that it had taken a 5.03% stake.
LeO receives almost 1,000 CMC ‘contacts’ in first three weeks
The Legal Ombudsman has received just under 1,000 consumer ‘contacts’ about claims management companies in its first three weeks of complaints handling, it has emerged.
National Accident Helpline moves into conveyancing
National Accident Helpline has today unveiled its move into the conveyancing market by spending £4.3m to buy a lead generation business specialising in the sector that owns the website of failed alternative business structure In-Deed.
LSB to call on regulators to make law firms and chambers “accountable” over diversity
Regulators need to do more with the diversity data they now collect in order to drive improvements in recruitment and particularly progression and retention within the profession, the Legal Services Board will shortly say.
SRA apologies for training contract numbers “confusion”
The Solicitors Regulation Authority has apologised for releasing information that made it appear as if there had been a massive rise in training places last year – when in fact the number has stayed static.
Business Growth Fund to consider more law firm investments
The growth capital fund which became the first external investor in a high street law firm last week has said it will consider investing in other legal practices.
