Exclusive: not-for-profit venture capitalists poised to invest in law firm start-up
A not-for-profit venture capital business that promotes innovation is set to invest in a start-up law firm targeting the technology sector, Legal Futures can reveal. The unusually named Atypical Law Firm will this week submit its ABS application.
LSB stands its ground against critics and warns: you can’t turn back the clock
The Legal Services Board has hit back at continuing criticism of its role and work by insisting that it has a legal duty to take positive action – and that turning the clock back to a pre-Legal Services Act world is not an option.
Law firm ‘broker’ launches with call to “overpaying” in-house counsel
A new law firm ‘broker’ is targeting companies that believe they are overpaying for legal services. The Legal Broker argues that even the most sophisticated clients are having trouble finding value for money and good service from their external lawyers.
LegalForce outlines plans for UK expansion
LegalForce, the US company that plans to build a legal services brand for innovators and start-ups based around a retail space, has stepped up its bid to build a UK network by appealing directly to sole practitioners and small law firms to apply to join.
Chambers becomes first ABS licensed by the SRA without a solicitor
A London chambers has become the first alternative business structure licensed by the Solicitors Regulation Authority that does not have any solicitors. Richmond Chambers LLP is a niche immigration set that focuses on direct access work.
SRA uncovers 205 more firms to probe over lack of compliance officers
The Solicitors Regulation Authority (SRA) is working its way through the hundreds of firms and individuals facing enforcement action over compliance officer failures – but has now found another 205 firms that require investigation.
Quindell boss enjoys massive pay rise
The man running alternative business structure Quindell Portfolio saw his pay more than double to nearly £900,000 last year, the company’s annual report has revealed. It has also put the full cost of Quindell’s purchase of three law firms last year at £45m.
Consumer panel calls for radical reform of financial protection arrangements
A single scheme joining up professional indemnity insurance and compensation funds across the whole legal services market – including unregulated providers – should be actively explored, the Legal Services Consumer Panel has recommended.
Referral scheme offers “lifeline” to PI solicitors
A scheme that offers solicitors a “lifeline” by enabling them to continue working with personal injury referrers was launched today by well-known legal IT firm Epoq. The company has created LegalGo, a free legal assistance plan.
SRA: plenty of firms breaching the referral fee ban
A significant number of businesses involved in the personal injury market have been acting in breach of the referral fee ban since it came in on 1 April, the chief executive of the Solicitors Regulation Authority warned yesterday.
