Biggest debt recovery firm eyes acquisitions and is “open” to external investment
The country’s largest specialist debt law firm – which went live a few weeks ago – is on the acquisition trail and is also open to the idea of outside investment, its chief executive has revealed. Drydensfairfax is exactly the kind of firms investors are said to be keen on.
SRA and OISC make competing land-grabs for immigration work
The Solicitors Regulation Authority has launched a bid to regulate non-lawyer immigration advisers. However, at the same time the body that oversees them – the Office for the Immigration Services Commissioner – is seeking to take over the regulation of specialist lawyers.
Consumers start to exert buying power over lawyers, says survey
There are signs that consumer power is starting to take a grip in the legal services market as more people shop around and demand fixed-fee deals, the Legal Services Consumer Panel reports today. However, the YouGov survey shows that the wider economic picture is affecting the use of legal services.
Law firms to have extra year before publishing diversity data as LSB flags concerns over Bar exemptions
Law firms are to have an extra year before they must publish staff diversity data, after the Legal Services Board approved Solicitors Regulation Authority plans for a delay. But it was unhappy with the Bar Standards Board’s proposal to exempt chambers of fewer than 10 people.
Government bid to slash red tape around legal services regulation goes live
A government bid to slash unnecessary red tape around the regulation of legal services goes live today. As first revealed by Legal Futures in February, the Red Tape Challenge – a government-wide initiative to cut the 21,000 regulations currently in force in the UK – is spotlighting legal services.
Riverview goes international with NY office and direct access pitch to American law firms and GCs
The rapid expansion of Riverview Law continued today with the announcement that it has opened its first international office in New York in a bid to give overseas businesses and law firms direct access to English barristers.
Law Society clashes with Bar over changes to cab-rank rule
The Law Society has called on the Legal Services Board to reject changes to the cab-rank rule in the latest stage of the long-running saga over standard contractual terms between barristers and solicitors. The society said they would have an “anti-competitive effect.
Neuberger: prepare for satellite litigation over proportionality
Satellite litigation may be necessary to work out the new rule on proportionality in costs, the Master of the Rolls has said, but it will be a “very small price to pay”. Lawyers were also warned that if they fail to submit a budget from next April, then it will by default comprise only court fees.
Claimant groups ramp up rhetoric in battle over personal injury fees
Claimant personal injury lawyers have launched a strong attack on the government’s bid to expand the RTA claims process while also cutting legal fees for work done under it. Research showed the current £1,200 is about right, with profit margins set to fall.
Pioneer calls on will-writers to become ABSs and level playing field with solicitors
The first will-writer to be granted an alternative business structure (ABS) licence says she hopes others will follow suit so as to “level the playing field” with solicitors. Parchment Law Group became the seventh ABS last Friday.
