SRA mulls dropping requirement on solicitors to refer clients to IFAs
The Solicitors Regulation Authority is set to recommend dropping the controversial ban on practitioners referring clients to tied financial advisers. Solicitors would instead have to ensure that the client is involved in the decision-making process that goes into any referral.
Law Society to be spared annual internal governance check – because it is bound to fail
The Law Society will not be required to certify its compliance with the rules on internal governance because it is bound to fail the test, the Legal Services Board has decided. The board said the new governance arrangements are “somewhat fragile”.
“More for less”, liberalisation and technology: Susskind lays out vision of the future
The Legal Services Act will play a role in transforming the legal market around the world, with English lawyers well placed to take advantage as a result, Professor Richard Susskind predicted last week. He also gave a preview of his new book – Tomorrow’s lawyers: An introduction to your future.
Freeserve founder says it will take non-lawyers to bring innovation to “hated” legal market
Lawyers are “in denial about what customers hate about law firms” and it will take entrepreneurs from outside the profession to deliver the wholesale change to the business model that is required, the founder of Freeserve claimed last week.
BSB wins argument over case for entity regulation
The Bar Standards Board narrowly defeated a motion proposed by a former Bar chairman that its plans for entity regulation are unhelpful to the justice system, in a debate held in London last week.
Here come the accountants – ICAEW launches ABS regulator bid
Around 100 firms of accountants are expected to become alternative business structures, the Institute of Chartered Accountants in England and Wales said today as it unveiled its draft application to become a regulator of legal work.
Referral fee ban will not catch solicitors’ collective marketing schemes, Djanogly affirms
Justice minister Jonathan Djanogly has affirmed the government’s belief that the ban on referral fees will not catch solicitors’ collective marketing schemes, despite continuing concerns that the legislation does exactly that.
Ten brokers and nine insurers sign up to Law Society’s prototype standard PII proposal form
Ten brokers and nine professional indemnity insurers have agreed to use the Law Society’s prototype standard application form. The eventual aim is to allow solicitors to fill out a single PII proposal form that will be accepted by all.
‘New generation’ comparison website receives investment backing for full launch
CompareLegalCosts.com, the ‘new generation’ comparison website that requires participating law firms and barristers to offer fixed fees, has announced a £500,000 investment in the full launch of the service next month.
County court advocacy specialists become latest ABS
A law firm that specialises in providing advocacy services in every county court across the country yesterday became the Solicitors Regulation Authority’s eighth alternative business structure.
