Regulators letting down consumers over complaints, says LSB
Frontline regulators are letting down consumers by failing to collect information on how lawyers are handling complaints, a review by the Legal Services Board has concluded. This would make it difficult for them “to identify systemic issues and adopt a targeted approach to regulation”.
Board hikes maximum ABS fine to £250m
The maximum fine for misdemeanours by alternative business structures should be £250m, the Legal Services Board has decided, having considered the amounts of money made by some law firms out of miners’ compensation claims.
Law Society: SRA has “no coherent vision” for insurance reform
Excluding claims by financial institutions from compulsory professional indemnity insurance cover will harm consumers and smaller law firms, cut access to justice and do little to reduce conveyancing claims, the Law Society has said.
Claims company reveals plan to become ABS
A car accident claims manager has revealed its intention to become an alternative business structure, Legal Futures can report. Hampshire-based Vamco, which specialises in repair management and credit hire, is planning to take over a branch office of Nesbit Law Group, which is currently located in the same building under the name Kingsley Law.
Appeals decision threatens prospect of SRA becoming an ABS licensing authority
The Legal Services Board is pressing ahead with plans to make the new regulatory chamber of the First-tier Tribunal the sole venue for appeals against decisions made over ABSs, despite strong objections from solicitors. It is a move that could damage hopes that the Law Society council will next month approve the Solicitors Regulation Authority’s application to become an ABS licensing authority.
Access denied to others as children of clients win valuable work experience
The children of clients are given informal work experience at large commercial law firms “as part of business development”, the first ever research into the subject has found. Students who have had informal work experience while at school have an advantage in pursuing a legal career, but a lack of “social capital” means others are denied access to such opportunities.
Consumers back complaints publication but could misuse information, research finds
Consumers believe that a lawyer who has provided a bad service should be “named and shamed”, research released today has found. However, there are signs that consumers are likely to use published information “in a way that may be at odds with the Legal Ombudsman’s reasons for publication”.
Barristers express concern over equality and diversity monitoring
Widespread doubts exist among barristers over aspects of the Bar Standards Board’s equality and diversity reforms, it emerged last week at a consultation event on proposed code of conduct rule changes, where concerns were raised over details of proposed monitoring requirements.
Revealed: nearly 350 firms apply for Conveyancing Quality Scheme
Some 342 law firms have applied to join the Conveyancing Quality Scheme (CQS) since it opened last month, the Law Society has revealed to Legal Futures. A spokesman said the number is growing rapidly, with around 20 new applications a day at the moment.
LSB ramps up preparations for regulating ABSs directly
A director of the Office of Fair Trading is heading a new committee to oversee the Legal Services Board’s contingency planning to regulate alternative business structures directly, Legal Futures can reveal.
