Quindell directors spend £2m on “undervalued” shares
Quindell chairman Rob Terry and two other directors have between them spent nearly £2m in buying shares in the company, in the latest bid to boost investor confidence in the alternative business structure.
Bogus law firm reports up by over 20%, with identity theft to the fore
The number of reports of bogus law firms received by the Solicitors Regulation Authority in the first eight months of this year is up by over 20% on the same period last year, the regulator has said.
Supreme Court backs law firm in breach of trust dispute
The Supreme Court has backed a law firm’s arguments that, following a breach of trust, it should have to pay in damages only the amount which the lender would have lost if the breach had not occurred.
Good drafting more important than SRA rules, say clients
Consumers and businesses believe that drafting “legally accurate and effective” documents is a more important quality of a competent solicitor than following professional rules, a major study has found.
“Nobody listens to the Law Society”, says leading academic
Professor Avrom Sherr, one of the country’s leading legal academics, has said that “nobody listens to the Law Society” since it lost its regulatory role.
Law school chiefs warn against central assessment test for would-be solicitors
Legal education providers have warned that the possible introduction of a new, centralised assessment test for all would-be solicitors by the Solicitors Regulation Authority could be “a step back”.
ABSs “should have to commit to pro bono work” as part of licensing process
The grant of licences to alternative business structures (ABSs) should be contingent on firms agreeing to undertake pro bono work, a Liberal Democrat peer suggested last night.
Big CMCs face £40,000 hit as government names day for new complaints regime
The Legal Ombudsman is set to start receiving complaints about claims management complaints from 28 January 2015 – some two and a half years after the switch from the Claims Management Regulator was first mooted by the government.
Bar Standards Board left with £100,000 bill after QASA costs ruling
The Bar Standards Board is facing a bill for over £100,000 after the Court of Appeal ruled that there was no need for it to be separately represented at the hearing of a judicial review against the Quality Assurance Scheme for Advocates.
Mass confusion over PII cover as SRA warns 1,863 firms that they are entering shut-down
Many of the 1,863 law firms e-mailed by the Solicitors Regulation Authority last Thursday that their apparent lack of professional indemnity insurance meant they would have to move into a period of shut-down had cover after all, it emerged.
