SRA: referral fee ban could drive many firms out of business – and may not even stop dodgy claims
The impending ban on referral fees in personal injury could result in a “steep increase” in the number of financial failures amongst small law firms – but may not actually discourage spurious claims – the Solicitors Regulation Authority has warned.
Law firm enters the Dragon’s den with Caan investment
Staffordshire law firm Knights has struck a deal to accept investment from the private equity company owned by former Dragon’s Den star James Caan in a bid to attract work away from the City.
SRA warned over ABS risk if it changes rules on referring clients to financial advisers
Insurance companies could buy law firms and use them as conduits to sell their products to consumers if the Solicitors Regulation Authority changes the rules on referring clients to financial advisers, it has been warned.
Will-writers accused of mis-selling and conducting reserved legal work
North East Trading Standards Association has joined forces with the Law Society to warn consumers about unregulated will-writers mis-selling wills and delivering reserved legal activities.
Online legal documents: “not a place for the faint-hearted”
The only winners in the online legal documents business are those supplying services to the likes of law firms, financial institutions and trade associations – rather than selling them directly to the end-user – new research has found. It warned that engineering online legal documents is not an end in itself.
Complaints reviewer warns SRA over appearing that it is “intent on looking after solicitors”
Dissatisfaction with the response of the Solicitors Regulation Authority to allegations of misconduct by solicitors is the most common source of complaints against the authority, with the introduction of risk-based regulation making the situation worse, its independent reviewer has found.
More firms paying partner bonuses while embracing alternative compensation systems
There has been a surge in large law firms paying partners bonuses over recent years along with distinct shifts in the way they compensate partners more generally and away from lockstep, new research has revealed.
News in brief: CIPA chief eyes ABSs, Co-op boss to bow out, law firms are “cybercrime target”, and more
Our regular round-up includes strong backing for intellectual property ABSs, Eddie Ryan leaving Co-operative Legal Services, a new digital copyright licence for law firms, an “unacceptable” lack of transparency over PII commissions, and a warning that law firms are being targeted by online espionage.
LSB urges SRA to speed up review of “unsustainable” in-house lawyer rules
The Legal Services Board has told the Solicitors Regulation Authority that it needs to complete its review of in-house practice as soon as possible because the current regulatory arrangements are not sustainable.
Internet revolution “yet to reach legal services” as consumers cry out for better online help
The Internet revolution has “yet to reach legal services”, new Legal Services Board research has found, meaning consumers jump at the idea of an ‘official’ online resource to help them resolve their legal issues.
