LPOs set to take on high-value work and “compete directly with law firms”
The legal process outsourcing industry is currently worth $2.4bn worldwide and is set to expand into higher value, more complex work, according to research conducted by the London School of Economics.
SRA: “too many” COLP and COFA nominees failing to disclose suitability issues
The Solicitors Regulation Authority has received “too many” compliance officer nominations where the individuals concerned have failed to disclose serious disciplinary issues that make them unsuitable for the role, as it warns that hundreds of firms will start 2013 without officers in place.
Connect2Law bids to become “UK’s leading response for law firms” to the ABS world
Connect2Law – the largest network of law firms in England and Wales – is planning to raise its profile and make itself the “UK’s leading response for law firms” to the post-Legal Services Act market. As a sign of intent it has recruited David Jabbari as its new chief executive.
Allow not-for-profit agencies to charge, says LSB as it delays date for them to become ABSs
Not-for-profit (NFP) advice agencies should be allowed to charge for providing legal services soon, the Legal Services Board said yesterday, while also announcing a delay in the creation of an alternative business structure licensing scheme until at least April 2015 because no regulator is ready to provide it.
Masses of non-compliance by overwhelmed solicitors, research finds
There are widespread failures among law firms to comply with a host of key regulatory requirements, from their websites to the Bribery Act, new research seen exclusively by Legal Futures has shown. The figures indicate that there is simply too much for small firms to comply with, according to its author.
Revealed: Law Society and SRA at odds again over regulator’s budget
The latest spat between the Law Society and Solicitors Regulation Authority (SRA) has been rumbling on over the latter’s budget for 2013, it has emerged. However, Legal Futures can reveal that the SRA is to reduce its budget by around £2m to £30.6m.
House of Lords gives Legal Services Board a bashing
The Legal Services Board (LSB) came under fire for “mission creep” in the House of Lords last night. In a debate initiated by Bar Standards Board chair Baroness Deech, several lawyer peers accused the LSB of going further than the oversight role envisaged for it.
Deloitte survey: growing number of large firms preparing for ABS conversion
The growing interest in alternative business structures (ABSs) among corporate law firms has been highlighted by another survey, with 46% of those polled saying they are likely to use the ABS regime in the next three years.
“Bizarre” move to keep ABSs within compensation fund indefinitely gets green light
The Solicitors Regulation Authority is to keep alternative business structures within the coverage of the Law Society’s compensation fund indefinitely, although the move was described as “bizarre” by the Shadow Minister for Justice.
Quindell to buy top claims management company and third law firm for £70m
AIM-listed Quindell Portfolio has continued its acquisition spree by agreeing to buy leading claims manager Accident Advice Helpline for £70m – the first major deal involving a claims management company ahead of the referral fee ban next April – as well as yet another law firm.
