NewLaw’s “encouraging” start to life as part of listed company
Pioneering alternative business structure NewLaw has made “an encouraging start” to life under the ownership of accident management business Redde plc, the company said yesterday, with profits of £2.1m in its first four months.
Personal injury to blame for Co-operative Legal Services losses
Falling revenue from personal injury work is the reason for the £5.1m loss announced by Co-operative Legal Services (CLS) yesterday, managing director Matt Howells has said.
The Dragon’s roar: Caan investment helps Knights’ turnover soar
Turnover is up by two-thirds in the two years since James Caan invested in Staffordshire-based Knights, the firm has announced. The firm, which has offices in Stoke, Chester and Cheltenham, has seen turnover go from £9m to £15m.
SRA mulls scrapping COLP/COFA regime for small firms
The Solicitors Regulation Authority (SRA) is to review whether the requirement for small law firms to have compliance officers is “overkill”, it emerged today.
Co-operative Legal Services makes £5m loss in first half of 2014
Co-operative Legal Services (CLS) has announced an operating loss of £5.1m in the first half of 2014, a 70% increase on last year. However, there is no sign of the Co-operative Group selling it off.
Bar Mutual complaints referred to financial ombudsman
Two barristers caught up in high-profile disciplinary actions have referred complaints about lack of funding from the Bar Mutual indemnity fund to the Financial Ombudsman Service (FOS), it has emerged.
LSB supports fee-charging McKenzie Friends – with safeguards
The Legal Services Board said yesterday that it supports recognition of fee-charging McKenzie Friends as a “legitimate feature of the evolving legal services market”, but also called for safeguards.
Capita expands legal market presence with Eclipse acquisition
The march of outsourcing giant Capita plc into the legal market continued today with its acquisition of well-known case management software provider Eclipse Legal Systems.
Law Society enters Europe debate with warning to government over “unsettling uncertainty”
Solicitors are concerned about the lack of certainty on the UK’s future relationship with the European Union, the Law Society has warned the government. It also revealed research that showed that every 100 jobs in the legal services market supports 67 elsewhere in the economy.
Claims management regulator “still not tough enough”
The Claims Management Regulation Unit is “still not tough enough” in tackling the behaviour of financial services claims management companies, a leading consumer credit specialist has said.
