Compliance officer failures bolster SRA bid for automatic fining powers
The Solicitors Regulation Authority is to seek powers to levy automatic fines for breaches of its rules to avoid a repeat of the embarrassment caused by hundreds of law firms failing to nominate compliance officers on time.
ABSs and phone-hacking highlight need for regulators to focus on ethics, says LSB report
The introduction of alternative business structures – along with scandals in other sectors – means regulators need to monitor ethics across the legal profession more closely, new research has argued.
SRA: firms will have to decide for themselves if they are breaching referral fee ban
It will be for law firms to work out if they are complying with the ban on referral fees in personal injury cases, with the law drafted in such a way to make some collective marketing schemes “vulnerable to being in breach”, the Solicitors Regulation Authority has warned.
Djanogly out as criminal law barrister and family law solicitor join MoJ
A criminal law barrister and family law solicitor have joined the junior ranks of the Ministry of Justice, while Jonathan Djanogly has been forced to return to the back benches following yesterday’s reshuffle.
SRA set to press ahead with leniency scheme for law firm whistleblowers
The introduction of a leniency scheme for those who reveal misconduct at law firms and alternative business structures will today be debated by the board of the Solicitors Regulation Authority. Co-operation could result in no action taking against the potential witness over their own wrongdoing.
ABS-in-waiting posts strong results as Admiral continues to consider its options
Prospective alternative business structure Quindell Portfolio plc – whose takeover of Liverpool law firm Silverbeck Rymer is awaiting approval – has more than £500m worth of new contracts under discussion, it revealed today.
SRA supervision reduces law firm risk, report on pilot finds
A report on the Solicitors Regulation Authority’s pilot on supervision of low and medium-risk firms has concluded that the regulatory risks posed by participating firms fell during the period of supervision. Feedback from the firms involved was “overwhelmingly positive”.
Making alternative business structures work
Lawrence Cook, director of marketing and business development at Thesis Asset Management – which was once owned by and is still linked to south-east law firm Thomas Eggar – outlines their experience of joint ventures with solicitors.
Here come the ‘Super Lawyers’ as US rating service launches in UK
Global publishing giant Thomson Reuters has launched a London-based pilot of its US Super Lawyers attorney-rating service covering solicitors, the first foreign venture of its kind after more than 20 years in operation.
Todd calls for last stand against QASA
The chairman of the Bar Council has called for a last stand against several “objectionable” elements of the Quality Assurance Scheme for Advocates or else they will form part of similar schemes planned for all areas of legal practice.
