The commercial law firm that came in from the cold – newest ABS embraces regulation
A business offering corporate and commercial legal services has entered into regulation by becoming the newest alternative business structure (ABS) licensed by the Solicitors Regulation Authority.
Licensed conveyancers attack regulator’s move into litigation and advocacy
Licensed conveyancers have spoken out against their regulatory body’s bid to expand its regulatory reach to litigation and advocacy services. However, they support it looking to regulate will-writing and estate administration .
Exclusive: top consumer law firm targets tie-up with big brands after receiving ABS licence
One of the country’s largest consumer law firms has become the latest alternative business structure (ABS) as it targets working with “well-known brands” to offer a range of legal services.
Hopper puts the case against “overly aggressive” SRA
The Solicitors Regulation Authority is overly aggressive, unaccountable, and is failing to differentiate between deliberate dishonesty and human errors of judgement, according to leading regulatory solicitor Andrew Hopper QC.
SRA warns of “glitches” as PC renewal gets underway
The 2012 practising certificate renewal exercise has gone live today with an acknowledgement from the Solicitors Regulation Authority (SRA) that there will be “glitches”. Separately the SRA has published its long-awaited consultation on introducing a leniency scheme for law firm whistleblowers.
Exclusive: government rejects SRA bid to increase fining power from £2,000 to £250m
The government has rejected the Solicitors Regulation Authority’s bid to increase the amount it can fine law firms from £2,000 to £250m, Legal Futures can reveal. The SRA had wanted its powers to penalise ‘traditional’ firms to match those it already has for ABSs.
Self-employed barristers’ earnings put at £2bn a year
Self-employed barristers collectively earn around £2bn a year, more than doctors in private practice, according to Bar Council estimates. In a paper issued yesterday, the Bar Council said “the Bar overall continues to be a successful profession in terms of overall earnings”.
Clayden: level of fixed costs will determine insurers’ appetite for ABSs
Insurers will be forced to consider alternative business structures (ABSs) if the government is not sufficiently “bold” in reducing the level of legal fees for RTA portal cases, a leading defendant lawyer has warned.
Solicitors putting barristers under increasing pressure to pay referral fees, Bar Council warns
Solicitors are putting barristers under “increasing pressure” to enter into referral fee agreements, to the detriment of clients, the public interest and the junior Bar, the Bar Council has claimed. It also warned that providing junior barristers at discounted rates can amount to a referral fee.
Majority of top firms eyeing growth through merger as ABSs appear on the radar
Nearly 60% of top 100 law firms view mergers and acquisitions as a leading growth opportunity in a challenging legal services market – with the prospect of alternative business structures starting to snap at their heels, according to a prestigious benchmarking survey.
