Tag Results

Deregulation: Too much of a good thing?

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.

July 23rd, 2015 | No Comments »

Cost of borrowing may rise if law firms abandon client accounts, regulators warn

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.

July 21st, 2015 | No Comments »

Law Society: “Piecemeal” SRA reforms could create “perverse incentives”

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.

June 16th, 2015 | No Comments »

Doubts over SRA plan to offer ‘client account alternative’

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.

April 24th, 2015 | No Comments »