Tag Results
Revealed: Law Society and SRA at odds again over regulator’s budget
Wednesday, 5 December 2012The latest spat between the Law Society and Solicitors Regulation Authority (SRA) has been rumbling on over the latter’s budget for 2013, it has emerged. However, Legal Futures can reveal that the SRA is to reduce its budget by around £2m to £30.6m.
Tags: internal governance rules, Law Society, Solicitors Regulation Authority
Posted in Latest news, Solicitors
“Bizarre” move to keep ABSs within compensation fund indefinitely gets green light
Tuesday, 4 December 2012The Solicitors Regulation Authority is to keep alternative business structures within the coverage of the Law Society’s compensation fund indefinitely, although the move was described as “bizarre” by the Shadow Minister for Justice.
Tags: compensation fund, Law Society, Legal Services Act, Legal Services Board, Solicitors Regulation Authority
Posted in Alternative business structures, Latest news, Solicitors
SRA begins action against 400 COLP/COFA defaulters as first approvals are issued
Monday, 3 December 2012The Solicitors Regulation Authority is to begin the process of pursuing the 400 law firms which have yet to nominate their compliance officers after the first tranche of approvals was issued.
Tags: COFA, COLP, compliance officer for finance and administration, compliance officer for legal practice, Solicitors Regulation Authority
Posted in Latest news, Solicitors
Law Society tells solicitors to ignore SRA’s financial services reform as IFAs threaten JR
Friday, 30 November 2012The Solicitors Regulation Authority’s decision to change the rules on recommending financial advisers to clients has come under fire from opponents, with the Law Society taking “the unprecedented step” of urging the profession not to follow the new provisions and IFAs threatening judicial review.
Tags: financial services, Financial Services Authority, Law Society, Solicitors Regulation Authority
Posted in Latest news, Solicitors
In brief: latest ABS, Co-op wins contract, top firms “don’t want” external cash, SRA race probe
Thursday, 29 November 2012Our regular round-up of important news nuggets includes the newest SRA-licensed ABS, an advice contract for the Co-op, a survey of top firms on how they are changing, a probe of SRA files to identify any racial discrimination, heavy fine for spam texters and much more.
Tags: ABS, Alternative business structures, Co-op, COFA, COLP, compliance officer for finance and administration, compliance officer for legal practice, equality and diversity, external investment, Intellectual Property Regulation Board, IPReg, legal aid, legal disciplinary practice, legal process outsourcing, probate, Solicitors Regulation Authority
Posted in hrtraining, Latest news, Marketing & PR, News In Brief, Outsourcing
Silence of the lambs
Thursday, 29 November 2012This is a week for stating the obvious. Extolling the importance of judicial diversity earlier this week, the Lord Chief Justice, Lord Judge, said: “Every human being is a unique human being. And because every human being is a unique human being, we are all different in one way or another. Some of the ways are obvious. There are adults and children. There are men and women.” So let me state something that at least appears obvious. The Solicitors Regulation Authority (SRA) is a public interest regulator. It behoves such an organisation to be open and transparent wherever possible. Yesterday I witnessed an example of the SRA doing everything but that. Yes, I’m afraid that I am back on my longstanding hobby horse of transparency (or lack of it) in the legal profession.
Tags: Solicitors Regulation Authority
Posted in Blog
SRA set to reject solicitor lobbying and change controversial referral rule
Tuesday, 27 November 2012The Solicitors Regulation Authority is to push ahead with controversial changes to the rules on referrals to financial advisers that will no longer preclude them from choosing those tied to particular institutions, despite opposition from the Law Society, SIFA and others.
Tags: financial services, Financial Services Authority, Law Society, Solicitors Regulation Authority
Posted in Latest news, Solicitors
ABS-in-waiting to double in size as non-lawyer backing prompts massive recruitment drive
Thursday, 22 November 2012The impact of non-lawyer investment into law firms came to the fore today as Liverpool personal injury practice Silverbeck Rymer announced plans to create 300 jobs over the next year and so more than double in size.
Tags: ABS, Alternative business structures, Financial Services Authority, Solicitors Regulation Authority
Posted in hrtraining, Latest news, Market monitor
First successes in red tape challenge with SRA set to sweep away City irritants
Tuesday, 20 November 2012The end of the “crazy” requirement that law firms have to go through multiple notification processes to nominate the same people as compliance officers for affiliated entities is in sight as one of the first changes flowing from the Solicitors Regulation Authority’s ‘red tape challenge’.
Tags: COFA, COLP, compliance officer for finance and administration, compliance officer for legal practice, Solicitors Regulation Authority
Posted in Latest news, Solicitors
Hudson: give law firms option of ditching client account
Monday, 19 November 2012The Law Society is to investigate giving solicitors the choice of not having a client account as a way to reduce the cost of regulation, it has emerged. Chief executive Des Hudson said the “cost and burden of regulation will have to fall” to enable solicitors to compete.
Tags: Law Society, Solicitors Regulation Authority
Posted in Accounts rules, Latest news, Solicitors