Tag Results
Law Society and SRA join forces to fight £50m indemnity insurance case
Wednesday, 18 January 2012The Law Society and Solicitors Regulation Authority have been granted leave to intervene in a High Court case on whether professional indemnity insurers should be able to effectively cap cover by aggregating claims against a firm – with a bill of £50m at stake.
Tags: Law Society, professional indemnity insurance, Solicitors Compensation Fund, Solicitors Regulation Authority
Posted in Indemnity insurance, Latest news, Solicitors
News in brief: "intimidating letters" solicitor suspended, solicitors warned over PPI, and more
Wednesday, 18 January 2012Our latest news round-up reports on the SDT’s sanction on Andrew Crossley for letters sent to alleged file-sharers, the question of forcing out older partners reaching the Supeme Court, the SRA warning solicitors who take on PPI cases, and the latest on practising certificate renewals.
Tags: Solicitors Regulation Authority
Posted in Latest news, News In Brief, Solicitors
Need to get COLP and COFA’s consent to take on roles will be "powerful tool"
Monday, 16 January 2012The requirement for compliance officers in law firms to consent to their appointment will be a “powerful tool” to ensure they are listened to, it was predicted last week. Firms were also told that they are likely to need a “compliance plan” as evidence of their approach to outcomes-focused regulation.
Tags: COFA, COLP, compliance officer for finance and administration, compliance officer for legal practice, Solicitors Regulation Authority
Posted in Latest news, Solicitors
The storm is coming – and a good thing too
Friday, 13 January 2012It’s all rather quiet on the alternative business structure front right now but don’t be fooled into thinking that nothing is happening. The Solicitors Regulation Authority has received around 50 stage-one applications for licensing in the first two weeks and is now starting to send out the main application form, which I understand is something of a whopper.
Tags: ABS, Alternative business structures, Solicitors Regulation Authority
Posted in Blog
SRA bids to scrap minimum salary for trainees
Thursday, 12 January 2012There is no regulatory justification for retaining the 30-year-old policy of minimum salaries for trainee solicitors, the Solicitors Regulation Authority has said. It also admitted to concerns that the Legal Education and Training Review’s timetable is too tight.
Tags: bar standards board, ILEX Professional Standards, legal education and training review, minimum salary, Solicitors Regulation Authority, trainee solicitors
Posted in hrtraining, Latest news, Solicitors
The drama taking place under our noses
Wednesday, 11 January 2012The Law Society, in my experience, is rather good at making things complicated. For evidence, look no further than the new internal governance arrangements which received lukewarm support from the Legal Services Board shortly before Christmas. This may seem like a dry and esoteric issue to most. Virtually everyone, in fact, which is why pretty much nobody else seems to write about or comment on it. They are wrong.
Tags: internal governance rules, Law Society, Legal Services Act, Legal Services Board, Solicitors Regulation Authority
Posted in Blog
Law Society calls for new approach to sharing ARP liabilities so that solicitors are not left to pick up tab
Friday, 6 January 2012Solicitors and insurers should share equally any exposure to the assigned risks pool in the 2012-13 indemnity year to ensure insurers have “skin in the game”, the Law Society is to urge. However, the profession’s liability could still reach £30m.
Tags: assigned risks pool, Law Society, professional indemnity insurance, Solicitors Regulation Authority
Posted in Indemnity insurance, Latest news, Solicitors
Please sir, the dog ate my client-care letter
Thursday, 5 January 2012The new caring, sharing Solicitors Regulation Authority issued a caring, sharing press release shortly before Christmas. Entitled “Take care with vulnerable clients, SRA urges”, it admonished solicitors “to ensure they pay close attention to clients’ needs from the outset to make sure they deliver a proper standard of service”. It is one of the most patronising things I have seen from the SRA.
Tags: Client care, OFR, outcomes-focused regulation, Solicitors Regulation Authority
Posted in Blog
First ABS wannabes begin SRA application process
Wednesday, 4 January 2012More than 10 prospective alternative business structures completed the first stage of the Solicitors Regulation Authority’s application process on the first day, the authority has revealed. SRA figures show that it will spend a minimum of three days considering applications.
Tags: ABS, Alternative business structures, Solicitors Disciplinary Tribunal, Solicitors Regulation Authority
Posted in Alternative business structures, Latest news
Djanogly hails benefits of ABSs to law firms and consumers as SRA opens doors to applications
Tuesday, 3 January 2012Alternative business structures will make solicitors’ firms “more competitive, more accessible and more efficient”, justice minister Jonathan Djanogly claimed today as the Solicitors Regulation Authority opened its doors to the first ABS applications.
Tags: ABS, Alternative business structures, Solicitors Regulation Authority
Posted in Alternative business structures, Latest news, Solicitors