Final Legal Education and Training Review report delayed
Completion of the much-anticipated Legal Education and Training Review has been delayed, it has emerged. The academic team compiling the report after 18 months of research and consultation was meant to have delivered it by the end of 2012.
Susskind: no future for high street firms, but window of opportunity for mid-sized practices
There is not much of a future for small law firms in the face of competition from banks and retailers, while medium-sized practice will need to merge and seek external investment to survive and thrive, leading legal ‘futurologist’ Professor Richard Susskind has predicted.
Call for gender targets as Law Society president says some men do not deserve to be senior partners
Law firms should introduce targets to increase the representation of women lawyers in partnership and senior roles, and turn talk of flexible working into reality, a major new report has recommended, with the Law Society president saying that if career progression was based on pure merit, some senior partners would have got nowhere near the top.
Cost of acquiring PI cases is £700 – and the referral fee ban will have no effect, says report
The cost of acquiring personal injury cases, irrespective of the referral fee ban, is around £700 – £200 more than the government is proposing for routine road traffic claims even before the legal work is factored in, according to new research.
Chambers sign up to escrow account pilot after FSA gives green light
Ten chambers have signed up to the pilot of Barco, the Bar Council’s third-party escrow account that will allow barristers to handle client money. It follows the Financial Services Authority granting regulatory approval for the service under the Payment Services Regulations.
LSB backs end to minimum salary and to IFA referral requirement
Controversial rule changes that scrap the minimum salary for trainee solicitors and allow solicitors to refer clients to tied financial advisers were approved last month by the Legal Services Board. In both cases the LSB found that there was no reason to refuse the applications.
SRA and claims regulator dismiss Law Society speculation of referral fee ban “difficulty”
The Solicitors Regulation Authority and the Claims Management Regulator have dismissed a Law Society suggestion that they will not be ready to implement the referral fee ban on 1 April. The society said there was a possibility the pair “may have some difficulty” in doing so.
Bank launches free online work matching service
A free online business supplier community that allows law firms and other providers to pitch for service requirements posted by other UK businesses has been launched by NatWest and RBS. BizCrowd aims to take online the bank manager’s role in connecting businesses.
SRA mulls making firms that want to hold client money seek permission
The Solicitors Regulation Authority giving solicitors positive permission to hold client money is one of the options it will consider as part of the review of conveyancing, it has emerged. It has also expressed concern about mortgage lenders using solicitors as an insurance policy against problems.
ABS start-up targets combination of legal and non-legal advice for SMEs
A start-up company aimed at offering small and medium-sized businesses a wide range of legal and non-legal advice has received its alternative business structure (ABS) licence from the Solicitors Regulation Authority.
