Solicitor struck off after misusing money meant for counsel
A London solicitor has been struck off after using client money that should have been paid to barristers to settle their fees. Paul Francis Fallon, who was at City Law Financial LLP at the time of the offences, was struck off last week.
Quindell spending £150m a year on upfront case acquisition
Alternative business structure Quindell plc is spending nearly £150m a year in upfront case acquisition costs, it has emerged. The AIM-listed group is also developing a “collaboration protocol” with insurers that will lead to the pre-payment of legal costs.
Litigants right to fear high legal costs, says government research
The fears of litigants about the high cost of legal representation were borne out by their experience, government-commissioned research has found.
Huge drop in new tenancies at the Bar – or not?
The number of tenancies available for newly qualified barristers collapsed in the most recent year for which figures are available, the annual Bar Barometer has revealed. But the Bar Council and Bar Standards Board now say it is wrong.
Groundbreaking ABS embraces employee ownership and new approach to charging
A pioneering alternative business structure (ABS) has become one of the first legal practices to introduce employee ownership, while also developing a new form of billing that will see it agree a profit margin with clients, Legal Futures can reveal.
FTSE-250 wealth manager awarded ABS licence
A FTSE-250 wealth management company is to launch an alternative business structure (ABS), it has emerged. The ABS is owned by Rathbone Brothers plc, a venerable City institution whose origins date back to 1742.
The quality of quality marks: getting better but still a long way to go
The major quality marks used in the profession are becoming more credible, but many still have “a long way to go” before consumers can use them with confidence, a new assessment has concluded.
SRA unveils plans to encourage multi-disciplinary ABSs
“Radical changes” to the authorisation and supervision of alternative business structures are on the cards after the Solicitors Regulation Authority expressed concern that the number of applications from multi-disciplinary practices has been “in the tens rather than hundreds”.
SRA bids to lighten burden on firms of residual client money and on non-practising solicitors
Solicitors will be able to close down thousands of client accounts with residual balances of up to £500 and donate the money to charity under plans unveiled yesterday by the Solicitors Regulation Authority. The regulator is also planning to end the annual ‘keeping of the roll’ exercise.
CPD deregulation going too far, Consumer Panel insists
The Solicitors Regulation Authority’s preferred alternative to the continuing professional development system is too hands-off to be relied upon, according to the Legal Services Consumer Panel.
