- Tuesday, 3 October 2017
The Legal Services Board has marked as “sufficient” action plans produced by legal regulators to introduce price transparency and release other information to the public to help with purchasing decisions. The verdict on the original action plans published at the end of June came in the wake of the regulators moving to the next stage of consulting on how they would implement transparency.
Tags: Competition and Markets Authority, Legal Services Board
Posted in Barristers, Latest news, Legal Executives, Legal Services Board, Other lawyers, Regulation, Solicitors
- Friday, 30 June 2017
Legal regulators have responded cautiously to the Competition and Markets Authority’s recommendations on price transparency, pledging to pilot regulatory requirements and test their effects on the lawyers and firms they regulate. They promised to implement controversial measures to encourage lawyers to publish prices if possible.
Tags: Chartered Institute of Legal Executives, Competition and Markets Authority, Council for Licensed Conveyancers, Solicitors Regulation Authority
Posted in Barristers, Latest news, Legal Executives, Other lawyers, Solicitors
- Wednesday, 22 March 2017
The Legal Services Consumer Panel has warned of “information overload” as legal regulators struggle to come to terms with the demands of the Competition and Markets Authority for transparency on prices and complaints.
Tags: Competition and Markets Authority, Legal Services Consumer Panel, Solicitors Regulation Authority
Posted in Consumer panel, Latest news, Legal Services Act, Legal Services Board
- Thursday, 28 July 2016
A lawyer-matching platform has answered the growing clamour for charging transparency with a price index based on its database of 15,000 quotes, broken down into detailed categories of commercial work. The move should give clients an idea of average fees at market rates.
Tags: Competition and Markets Authority
Posted in Latest news, Market monitor
- Wednesday, 13 January 2016
The Competition and Markets Authority (CMA) has announced a study of the legal services sector for consumers and small businesses so as to examine “long-standing concerns” about affordability and standards of service. The CMA said concerns had also been raised about the “complexity of the current regulatory framework”.
Tags: Competition and Markets Authority, legal services, Solicitors Regulation Authority
Posted in Alternative business structures, Consumer panel, Latest news, Legal Services Board, Regulation
- Tuesday, 22 December 2015
The Bar Standards Board has rejected suggestions that its application to become an alternative business structure licensing authority will unnecessarily restrict the extent of non-lawyer ownership and so have a detrimental effect on competition.
Tags: Alternative business structures, bar standards board, Competition and Markets Authority
Posted in Alternative business structures, Latest news, Legal Services Act, Regulation
- Monday, 17 November 2014
The Competition and Markets Authority is considering whether to launch a review of the legal services market, it has emerged. It was a report in 2001 by its predecessor, the Office of Fair Trading, which began the process that led to the Legal Services Act 2007.
Tags: competition, Competition and Markets Authority, Legal Services Act, Legal Services Board, Office of Fair Trading
Posted in Latest news, Legal Services Board
A law firm without a growth strategy is like any business that fails to plan for the future. It may continue to thrive in the short term but in the long term it is unlikely to succeed.
A recent story hit the headlines that CEOs were struggling to get their employees back into the office following the lifting of Covid-19 restrictions.
The general industry consensus is that multiple new entrants will continue to enter the litigation funding market, attracted by what they perceive as the potential gains and the lack of barriers to entry.