Tag Results

The Law Society’s vision for the future of legal regulation would enable it to restrict the licensing of alternative business structures so as to protect solicitors from competition, the Solicitors Regulation Authority has warned.

Half of partners do not fully understand the potentially “catastrophic” personal consequences of their firm getting into financial difficulty, new research has warned. Baker Tilly said individual partners in firms “can no longer expect that being a good lawyer is good enough”.

Much of the red tape around the training of solicitors would be swept away if proposals before the Solicitors Regulation Authority are adopted, including abandoning a ceiling on the number of trainees firms are allowed to take on.

It was third time unlucky for a solicitor whose striking-off had twice been overturned by the High Court, as Mr Justice Mostyn yesterday rejected his challenge to the latest decision to remove him from the roll.

The Solicitors Regulation Authority is contemplating whether to contact thousands more law firms about their financial position after this summer’s exercise involving 2,000 practices “confirmed our view that financial difficulty is a widespread current risk”.