Law firms tell SRA: we want to keep client account
A poll of law firms has found almost complete opposition to the Solicitors Regulation Authority’s idea of preventing them from holding client money.
Fine for conveyancer who acted for lenders and himself
A solicitor who acted for lenders in conveyancing transactions without telling them he was also acting for himself and family members has been fined £12,500.
Tribunal fines law firm for persistent transparency rule breaches
The Solicitors Disciplinary Tribunal has fined a law firm over £20,000 for failing to comply with the SRA’s transparency rules and requirements to have a COLP and COFA.
City firm unfairly dismissed associate over party misconduct claims
A leading City law firm unfairly dismissed a senior associate for sexual misconduct after a defective investigation and disciplinary process, an employment tribunal has ruled.
Law firm launches consultancy to help investors enter legal market
City law firm Kingsley Napley has launched a strategic regulatory advice service for private equity firms and other investors eyeing up the UK and international legal market.
Small law firms embracing AI as they move away from hourly billing
Small law firms have embraced artificial intelligence, with document drafting or automation the most popular application, according to new research.
Law firm directors did not breach duties in setting up competitor
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.
SRA worried about firms over-reliant on client account interest
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.
Unapologetic SRA dismisses Axiom Ince report as “opinion”
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.
Strong results for law firms despite high inflation
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.
