Niche corporate firm and conveyancing arm of property MDP become latest ABSs
A West Midlands corporate transactions law firm that has advised on deals worth more than £20bn has become an alternative business structure, as has a practice working within a leading Bristol property services group.
Law Society attacks notion that education and training regime is broken
The final discussion paper produced by the Legal Education and Training Review “lacks rigour and is therefore unhelpful” in concluding that the current system is unfit for purpose, the Law Society has said. But it strongly backed creating alternative routes to qualification.
Lloyds to take minority stake in defendant firm after SRA approves ABS application
Leading defendant law firm Keoghs has secured “significant investment” from mid-market private equity investor LDC, which is part of Lloyds Banking Group. It is taking a 22.5% minority stake.
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”.
