- Friday, 15 May 2015
The Bar Standards Board (BSB) has proposed that it should be given, for the first time, the power to intervene in barristers’ practices and chambers. It also wants new powers on fines and setting up a compensation fund.
Tags: bar standards board, compensation fund, fines, interventions
Posted in Barristers, Latest news, Regulation
- Wednesday, 7 January 2015
Claims management companies (CMCs) which break the rules this year face potentially huge fines – of up to 20% for those with an annual turnover of more than £500,000. Smaller CMCs can be fined up to £100,000.
Tags: claims management companies, CMRU, fines, Ministry of Justice
Posted in Latest news, Marketing & PR, Regulation
- Thursday, 4 December 2014
ILEX Professional Standards (IPS) has applied to the Legal Services Board (LSB) to raise the maximum fines limit for chartered legal executives from the current £3,000 to a top level of £50m.
Tags: Chartered Institute of Legal Executives, chartered legal executives, CILEx, fines, ILEX Professional Standards
Posted in Latest news, Legal Executives, Legal Services Act, Regulation
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.
Selling a law firm can be a complex process. The time comes when you might want to move on or retire, and finally extract as much value as you can from your practice. It’s a huge decision and a challenging task.