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The Court of Appeal has refused to overturn a ruling that two former directors of a law firm were not in breach of their duties by taking preparatory steps to set up a competitor.

The SRA will ask next week whether it is ever right for solicitors to retain interest received on client account money, saying it is worried that some firms rely on it to stay solvent.

The leaders of the SRA yesterday refused to apologise to the profession about the Axiom Ince collapse as they dismissed the report criticising its actions as just opinion.

Four out of 10 law firms increased revenues above inflation in the last financial year, while 89% expect revenue to go up in the current year, research has found.

The claim that IP law firm Marks & Clerk overcharged thousands of small businesses by operating a ‘secret commissions’ scheme has been settled with payments but no admission of liability.

What went wrong with the Solicitors Regulation Authority’s supervision of Axiom Ince is “in many respects… history for us”, the regulator’s chair told the profession today.

A professional services business focused on finance and accountancy has made its first foray into the legal market with the £6.1m acquisition of a fee-share law firm.

The Solicitors Regulation Authority has imposed conditions on the practice of SSB Group co-founder Jeremy Brooke while it continues its probe into what went wrong.

A solicitor who allowed an unadmitted “friend” to run a law firm of which he was nominee director and shareholder, has been suspended for two years.

Many law firms treat anti-money laundering training as a “tick-box exercise”, the Solicitors Regulation Authority has found.