BSB outlines framework to regulate ABSs and allow barristers to conduct litigation
The Bar Standards Board has launched its final scheme for regulating advocacy-focused alternative business structures in what it described as a “declaration of intent” to become the regulator of choice for advocates.
Court of Appeal admits ruling could discourage solicitors from acting for children
The way solicitors act for children in small claims is set to change dramatically following a Court of Appeal costs ruling last week, which the court itself recognised could discourage them from acting at all.
Big law firms told to allow trade in the value of their businesses
Large law firms should consider structures that allow them “to trade in the substantial value of their businesses”, a corporate advisory firm claimed yesterday. Europa Partners said that six of the top ten by value large enough to be included in the FTSE 100 if they were listed.
SRA set to delay COLP and COFA deadline
The 31 March deadline for law firms to nominate their new compliance officers is to be pushed back as a result of the continuing practising certificate renewal problems at the Solicitors Regulation Authority.
News round-up: Kennedys eyes investment, run-off cover call, Manchester firms’ growth stalls, and more
Our latest news round-up reports on City firm Kennedys’ likely need for external investment, Law Society lobbying over run-off cover, Mishcon’s new private client service, a review of Manchester firms’ financials and an anti-HSBC petition.
Solicitor receives suspended sentence for failure to co-operate with Legal Ombudsman
The High Court has handed a suspended four-month sentence to a solicitor who failed to co-operate with an investigation by the Legal Ombudsman. The judge only held back from committing him to prison because of his personal mitigation.
Top criminal firm eyes joint bidding for legal aid contracts
National criminal law firm Tuckers could look to form consortia with other practices to bid for legal aid contracts, it has revealed. The firm has recently begun offering other criminal law firms access to its back-office services in a bid to generate income, and save costs for smaller practices.
Struck-off lawyer jailed for £8m mortgage fraud
A former registered foreign lawyer at the helm of a criminal gang that defrauded high street banks out of almost £8m by taking out mortgages on properties they did not own was jailed for seven years last week.
Revealed: financial services group set to enter the law with PI firm as 33 stage 2 applications go in
A financial services group is to submit its stage two ABS licence application this week as it bids to add a legal practice to its portfolio, Legal Futures can reveal. It comes as the SRA reveals how many would-be ABSs have filed stage two applications.
‘eBay for lawyers’ goes live as new services target intra-profession referrals
Two lawyer-to-lawyer referral services have gone live. ReferMarket and Lawyer to Lawyer both aim to help firms realise the value of cases they cannot for whatever reason handle themselves, but do so in very different ways.
