Appeals consultation shows LSB making contingency plans to regulate ABSs itself
The Legal Services Board has continued making contingency plans to regulate alternative business structures itself if none of the current approved regulators are up to the task, it has emerged from a consultation on the arrangements for appeals against the decisions of ABS licensing authorities.
SRA to pilot dedicated relationship managers for large or risky law firms and ABSs
A pilot of how the Solicitors Regulation Authority could supervise law firms through dedicated relationship managers will begin this autumn, it has emerged. Permanent relationship management could be for large commercial firms and ABSs, with temporary arrangements for the likes of new firms and those in the assigned risks pool.
Ombudsman rejects Law Society claim that new complaints system will not be cheaper
The Legal Ombudsman has rejected suggestions from the Law Society that the new complaints-handling service will not prove any cheaper for solicitors, Legal Futures can reveal.
Regulators “must do more” to engage consumers in their work
The profession’s regulators have been urged to put consumer engagement at their heart of their strategies after talks last month found their efforts to date have been limited. The Legal Services Consumer Panel says this is “an essential part of being a credible regulator”.
Legal Services Board fires warning shot over how Law Society spends practising fees
The Legal Services Board has fired a warning shot across the bows of the Law Society over the way the practising certificate fee is divided up after expressing concern that some money is being applied to “non-permitted purposes”.
Strong results for world’s only two publicly listed legal practices
The world’s only two publicly listed legal practices, both in Australia, have announced strong results for the 2009/10 financial year. Slater & Gordon announced a 16% rise in profits to A$19.8m (£11.3m), with revenues up 21% to A$125m. Integrated Legal Holdings saw revenue grow 41% to A$24m, with profits up 44% to A$853,494.
Weekly round-up: will European court threat discourage City firms from ABSs?
As part of our commitment to be your central resource for all that is happening in the world of legal regulation and the Legal Services Act, we are starting a weekly round-up of other key stories and opinions that have emerged during the past seven days, starting with a warning that City firms accepting external capital could end up in the European Court of Justice.
Quinn formally bows out as Law Society warns insurers over decision deadlines
Quinn Insurance has finally confirmed that it will not be offering solicitors professional indemnity cover for 2010/11. But ex-Quinn sole practitioners will be boosted by the deal done by Legal Futures Associates Travelers and Prime Professions to offer most of them cover.
Surge in legal comparison websites
The rate of new lawyer comparison websites is speeding up, with at least four ramping up in the past month. Arguably the most significant has been the launch of a UK version of FindLaw, the leading free legal information website in the US.
Government targets CFAs and contingency fees in Jackson consultation
The government is to consult on Lord Justice Jackson’s blueprint for reform of conditional fee agreements (CFAs), as well as introducing contingency fees, “as a matter of priority”, justice minister Jonathan Djanogly announced today.
