SRA bids to get grip on exactly how many firms have yet to secure insurance
The Solicitors Regulation Authority does not know the insurance position of at least 50 law firms, but there may be even more out there uninsured, it admitted yesterday. Those yet to inform the regulator that they do not yet have insurance face enforcement action, it warned.
Falconer: demise of generalist high street firms “inevitable”
Changes in the legal market since the Legal Services Act will accelerate, with competition from new providers and cuts in legal aid leading to a “tragic but inevitable” end for non-specialist high street firms, according to the politician who shepherded the Act through Parliament.
Wiggin eyes transformation into media business after ABS licence award
An alternative business structure (ABS) licence is the next stage of the evolution of well-known media law firm Wiggin into a media business “of which law is a central cog but not the be all and end all”, its chief executive has explained.
“Ambitious” Jacoby & Meyers targets major recruitment drive in race to become UK legal brand
The largest consumer law firm in the US is set to mount a bid to build a trusted national legal brand in the UK, potentially recruiting thousands of lawyers and with a global marketing budget of tens of millions of dollars.
Bank problems “will not affect” Co-operative Legal Services
The problems with the Co-operative Bank will not have an impact on the growth of Co-operative Legal Services, its director of policy said yesterday. The assertion came as the SRA published guidance highlighting the risks of ‘group contagion’ in the legal market.
Pioneering solicitor hands in PC to focus on online legal service without regulatory burden
One of the early pioneers in online legal services has relinquished her practising certificate in favour of working full-time for the web-based business she has built up over the past 12 years.
SRA imposes controls on relationships within AA group after ABS award
The Solicitors Regulation Authority has imposed a series of conditions on AA Law that aim to control the relationship between the law firm and the breakdown giant’s insurance and claims-handling operations.
Mainland EU states “open to ABS invasion”
Protectionism among the mainland European bars is unlikely to stop determined UK-based alternative business structures from entering their markets, with various avenues open to them, according to new research.
MDPs “struggling” to make it through ABS licensing process
The process of approving alternative business structures seems to be weighted against multi-disciplinary practices and business services firms, it has been claimed. The Legal Services Board also expressed concern over the impact on ABS licensing of senior departures from the SRA.
Chambers face probe over quality of service and financial stability
Barristers are to get a taste of solicitors’ regulatory medicine from January with the launch of a new supervision scheme that will assess how effectively chambers and sole practitioners are managing potential risks such as ineffective governance and inadequate pupillage training.
