Attorney General “warned LSB about regulatory creep” but indicates no roll-back of Clementi
The Attorney General has warned about the “danger” of regulators micro-managing the legal profession, but also indicated that the government is unlikely to roll back the Clementi reforms that led to the creation of independent regulators.
SRA interventions loom for firms practising without insurance
The Solicitors Regulation Authority has revealed that around 10 firms have failed to close after failing to secure professional indemnity insurance and are heading for intervention, as the fallout resulting from last year’s renewal season enters its final phase.
Ombudsman gives lawyers economic incentive to improve complaints handling: increased profits
The Legal Ombudsman today appealed to solicitors’ bottom line to persuade them to take complaints more seriously, saying that law firms and other providers could increase their profits by up to 3% if they do.
SRA, BSB and other regulators join forces to demystify the law for consumers
The frontline legal regulators yesterday launched a groundbreaking consumer-facing information website that aims to demystify the legal profession for ordinary people.
Barristers vow to boycott QASA despite High Court defeat
Monday’s failed judicial review of the Quality Assurance Scheme for Advocates (QASA) has done little to quell the mutiny among criminal law barristers, even though the Bar Standards Board has called on them to “respect the court’s decision”.
Firm angry over inclusion on SRA indemnity list as solicitors predict PI firms will dominate next one
There have been some angry reactions to the Solicitors Regulation Authority’s publication last Friday of the names of 136 law firms which did not secure professional indemnity insurance by 29 December.
Leading volume conveyancing firm goes into administration
Leading volume conveyancer Barnetts has today been broken into four after going into administration. However, no jobs are being lost at the Southport-based firm, whose senior partner, Richard Barnett, described the move as a “fantastic opportunity” for the firm.
Mid-sized firms have much more appetite for external investment than MDPs, survey finds
One in five mid-sized law firms expects to seek external investment to fund expansion within an alternative business structure, according to a major benchmarking survey. However, very few see a merger with non-lawyer professionals in their future.
SRA set for unrated insurer u-turn
The Solicitors Regulation Authority is set to perform a u-turn on allowing unrated insurers to offer solicitors cover after discovering that they do not always have the same protections as rated insurers.
Top insurer Markel wins approval to buy ABS – and its listed owner
The first acquisition of a listed company that in turn owns an alternative business structure went through last week after leading insurer Markel won court approval for the scheme of arrangement to buy Abbey Protection Group plc.
