Tag Results
Ombudsman should have jurisdiction over will-writers and not-for-profits, says report
Monday, 14 November 2011The Legal Ombudsman should press to extend its jurisdiction to complaints about non-lawyer will-writers and the not-for-profit sector, while the government needs to review its inadequate powers over complaints against CMCs, a study has recommended.
Tags: claims management companies, Legal Ombudsman, Legal Services Act, Legal Services Board, not-for-profit, reserved legal activities, Scotland, Solicitors Regulation Authority
Posted in Legal Ombudsman, News
Law Society and SRA unveil deal to resolve longstanding governance wrangling
Friday, 11 November 2011The Law Society and Solicitors Regulation Authority have hammered out “a permanent resolution” of their long-running internal governance issues, the pair announced yesterday, ensuring regulation is independent from representation at Chancery Lane.
Tags: internal governance rules, Law Society, Legal Services Board, Solicitors Regulation Authority
Posted in News, Solicitors
SRA: BME solicitors face increasingly disproportionate number of conduct complaints
Friday, 11 November 2011The proportion of black and minority ethnic solicitors (BME) named in complaints about conduct to the Solicitors Regulation Authority surged last year, the third year in which the figure has risen. BME solicitors comprised 27% of all conduct complaints.
Tags: BME, intervention, Solicitors Disciplinary Tribunal, Solicitors Regulation Authority
Posted in News, Solicitors
Solicitors paid record-equalling £256m for indemnity insurance this year
Thursday, 10 November 2011Solicitors paid £256m for the compulsory layer of professional indemnity insurance – the highest amount since the first year of buying insurance on the open market – Solicitors Regulation Authority figures have shown.
Tags: assigned risks pool, professional indemnity insurance, Solicitors Regulation Authority
Posted in Indemnity insurance, News
SRA eyes expanded international reach by offering to regulate foreign firms
Wednesday, 9 November 2011Foreign law firms could choose to be regulated by the Solicitors Regulation Authority under proposals put forward yesterday. An SRA green paper also suggests introducing a single “passport to practice” for firms with multiple overseas offices.
Tags: international practice, Solicitors Regulation Authority
Posted in Latest news, Solicitors
Cost of SRA compliance “forcing small firms to close”, says Law Society survey
Friday, 4 November 2011More than one in ten small law firms questioned in a massive survey of solicitors plan to close down or merge as a result of the cost of complying with regulatory obligations, Law Society research has revealed.
Tags: compliance, OFR, outcomes-focused regulation, practising certificate fee, Solicitors Regulation Authority
Posted in Latest news, Solicitors
Law firm that sent intimidating letters to alleged file-sharers accepts SRA reprimand
Thursday, 3 November 2011A law firm has escaped with a reprimand after being found by the Solicitors Regulation Authority to have breached professional practice rules in connection with intimidating letters sent to alleged Internet file sharers. It is the third firm to face SRA action over this.
Tags: regulatory settlement agreement, Solicitors Disciplinary Tribunal, Solicitors Regulation Authority
Posted in News, Solicitors
Fewer law firms shut down but SRA reports rise in mortgage fraud claims
Tuesday, 1 November 2011The number of law firms being closed by the Solicitors Regulation Authority has fallen to a four-year low, new figures have shown. But it has also received a record number of claims for compensation for mortgage fraud in the last quarter.
Tags: intervention, mortgage fraud, Solicitors Regulation Authority
Posted in News, Solicitors
Will the separate business rule ruin CMCs’ plans to become ABSs?
Monday, 31 October 2011I spoke at a conference organised by the Claims Standards Council earlier this year in Manchester on applying to become an alternative business structure. Inevitably the main topic of the conference was the Jackson reforms and the (then) possible threat to referral fees. The organisers thought that the impact of the reforms might lead many claims management companies to consider becoming an ABS by acquisition or merger with existing law firms or by developing an in-house legal function.
Tags: ABS, Alternative business structures, claims management companies, separate business rule, Solicitors Regulation Authority
Posted in Features
CMCs warned over major ABS hitch amid call to close referral fee ban "loophole"
Monday, 31 October 2011Claims management companies looking to create legal arms as ABSs could fall foul of Solicitors Regulation Authority rules, a former SRA director has warned, while a leading insurance lawyer cautions over a loophole in the referral fee ban.
Tags: ABS, Alternative business structures, claims management companies, referral fees, separate business rule, Solicitors Regulation Authority
Posted in Alternative business structures, News