Time for a single regulator and code of conduct? Consumer panel calls for the nuclear option
A single regulator for all legal services providers and a single code of conduct is the way forward for the market, the Legal Services Consumer Panel argued today. It essentially recommended tearing up the Legal Services Act 2007 and starting again.
Third of law firms under financial pressure, says Company Watch
A third of law firms are under financial pressure and may require refinancing or an injection of capital, new research has found. Financial health specialist Company Watch said that 898 of the 2,600 firms it investigated were in trouble.
Leading ABSs take next steps forward
Slater & Gordon has now formally acquired personal injury firm Goodmans, giving the alternative business structure (ABS) a Liverpool base for the first time. Meanwhile, Co-operative Legal Services has launched its academy to offer career progression to all staff.
Law Society enters PII market for small firms
With just a month to go before solicitors have to renew their professional indemnity insurance (PII), the Law Society has today launched its much-anticipated offering for firms of one to four partners that cuts out brokers.
Admiral takes £15m referral fee hit
The ban on referral fees in personal injury is set to cost Admiral Insurance around £15m this year, it emerged yesterday. The insurer also said its two new ABS joint ventures are “not expected to make a material contribution to group profits in the foreseeable future”.
Rescue for Challinors subsidiary
Thomas Solicitors – which was bought by failed law firm Challinors three years ago – has been acquired by East Midlands practice Hawley & Rodgers. The firm has continued to trade profitably despite its parent company’s financial difficulties.
CMCs in the dock over cold-calling and shoddy work
Citizens Advice has hit out at claims management companies for cold-calling and the way they then handle payment protection insurance mis-selling cases. Two-thirds of adults – equivalent to 32m people in the UK – say they have been cold-called over PPI, its research claims.
Co-op undeterred despite £3.4m loss by legal services business
Co-operative Legal Services has revealed losses of £3.4m for the first half of 2013, which its parent group said reflected “the start-up nature of the business”. But The Co-operative Group affirmed its intention to “continue with our plans to develop this growing business”.
The doctor will see you now – niche medical law firm plans post-ABS expansion
A niche medical law firm has become an alternative business structure with the ambition of becoming a one-stop shop for healthcare providers. DR Solicitors was created under a brand designed to appeal to its primary care doctor, dentist and consultant clients.
AIM-listed accident management company launches ABS
Leading AIM-listed accident management company Helphire Group has linked with a start-up personal injury law firm within an alternative business structure, Legal Futures can reveal. Principia Law Limited is managed by solicitors and barristers.
