- Thursday, 23 July 2015
There are a lot of things that lawyers and the government do not agree about. One area where they do, generally speaking, is the need for deregulation. The ‘legal regulators’ (this now includes the Institute of Chartered Accountants in England and Wales) were keen to show just how much they agree in the three reports sent by the Legal Services Board to justice minister Shailesh Vara this week.
Tags: client accounts, Legal regulators, Solicitors Regulation Authority
Posted in Blog
- Tuesday, 21 July 2015
Banks may charge law firms more for borrowing if they abandon their client accounts, the legal regulators have warned. A report submitted to justice minister Shailesh Vara highlighted both the dangers and benefits of allowing choice on whether to handle client money directly.
Tags: client accounts, Legal Services Board, Solicitors Regulation Authority
Posted in Latest news, Legal Services Act, Legal Services Board, Regulation
- Tuesday, 16 June 2015
The Law Society has launched a sustained attack on plans by the Solicitors Regulation Authority to introduce third-party accounts, allow referral fees in legal aid cases and remove the requirement on firms to carry out reserved activities.
Tags: client accounts, Law Society, referral fees, reserved activities, Solicitors Regulation Authority
Posted in Latest news, Regulation, Solicitors
- Friday, 24 April 2015
Plans to offer solicitors the option of a “third-party managed accounts” instead of the traditional client account have divided opinions, with some criticising a lack of detail and questioning whether the move would reduce fraud.
Tags: accounts rules, client accounts, Solicitors Regulation Authority
Posted in Accounts rules, Latest news, Regulation, Solicitors
Legal education and training is not fit for today, let alone the future, and the approach of the main professional bodies to the need for greater accessibility and flexibility could not have been more different.
Since abolition of the common renewal date, practices have been free to choose when to renew their professional indemnity insurance. We estimate that around 30-40% now renew between March and April.