Latest news – Page 815
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Fee abomination
The payment of referral fees is an abomination which is destroying our profession. I am so pleased the Law Society’s Council has decided to call for their abolition.
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What a waste
Mr Booth’s concerns and Mr Fenton’s response (letters, 12 November) highlight the real problem with HM Courts Service. It likes to dictate how things should be organised when alternative, local methods of working would be more appropriate.
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Amending the Code by the back door
As your readers will be well aware, practising solicitors are currently bound by a Code of Conduct which runs to more than 200 pages. The code is being regularly amended, often making it very difficult for solicitors to know what regulatory rules they have to obey on any given occasion.
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Stock Exchange activity, WHSmith expansion and new fire stations
Sovereign wealth: Magic circle firm Allen & Overy advised a number of underwriters on issuing the government of Dubai’s inaugural sukuk, worth around $2bn (£1.2bn) in total this year. It is believed to be the largest sovereign sukuk ever issued. City firm Taylor ...
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Office of Fair Trading probes insolvency lawyers' fees
Fees paid to insolvency lawyers are set to come under scrutiny by the Office of Fair Trading after the competition watchdog launched a probe into corporate insolvency. The City of London Law Society’s insolvency committee was due to convene to discuss the OFT’s market study as ...
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Top City firms look to banks to cover further redundancy payouts
Top City firms are preparing for a possible second wave of job cuts by making sure they have secured adequate lines of credit from banks to cover further redundancy payouts, according to one of the sector’s major lenders. Meanwhile, mid-tier law firms are being squeezed ...
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Whistleblowing proposals could give ‘improper bargaining power’ to claimants
Government proposals on whistleblowing could give ‘improper bargaining power’ to claimants and allow serious allegations to escape investigation, employment lawyers have warned. Under proposals contained in a Department for Business Innovation & Skills consultation, whistleblowing claimants would be able to decide whether the employment tribunal should ...
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Solicitors issue advice warning over child neglect cases
Solicitors representing children in cases of chronic neglect are being obliged to act without the advice of a guardian or social worker, lawyers warned this week. A shortage of guardians at the Children and Family Courts Advisory Service has led to courts directing solicitors to appoint ...
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Jack Straw urges magistrates to keep cases in own court
Justice secretary Jack Straw has called on magistrates to deal with more cases themselves rather than sending them on to the Crown court. Speaking at the Magistrates’ Association conference in Birmingham, Straw noted that the number of cases in the magistrates’ court fell by 9% in ...
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Solicitors blamed for delays in conveyancing process
Homebuyers and sellers have blamed solicitors more than estate agents for delays during the conveyancing process, according to research published by the Office of Fair Trading. The consumer watchdog published four reports undertaken as part of its market study into home buying and selling. One showed ...
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Private equity investors focus on legal sector
Private equity investors are becoming much more interested in doing deals with law firms, a report on the Legal Services Act 2007 launched today has revealed. A study by public relations company Byfield Consultancy, in association with law firm Fox Williams, shows that private investors ...
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ABI to introduce new voluntary code on third-party capture
The Association of British Insurers is to introduce a voluntary code of conduct on third-party capture early next year in an effort to appease critics of the controversial practice, it emerged last week. However, claimant lawyers have dismissed the initiative as a tactic to allow insurers ...
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Silverbeck Rymer faces six-figure repayment to former miners
Liverpool firm Silverbeck Rymer could repay more than £100,000 to former miners after being rebuked by the Solicitors Regulation Authority for its handling of their government compensation claims. Partners James and Charles Rymer were reprimanded by the SRA for deducting £117,000 in total from 189 miners’ ...
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Conservatives pledge to apply brakes to alternative business structures
A Conservative government would seek to slow down the introduction of alternative business structures, shadow justice minister Henry Bellingham revealed last week. Describing ABSs as ‘one more assault on the high-street solicitor’, Bellingham (pictured) predicted that big names would enter the market and cherry-pick the more ...
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SRA moves to scrap assigned risks pool
The Solicitors Regulation Authority will recommend abolishing the assigned risks pool in a consultation to be launched today. The regulator also wants to make it easier for struggling law firms to be taken over rather than shut down.
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Bar Standards Board opens door to joint practices
Barristers and solicitors will be able to go into practice together as a first step on the post-Clementi road, following a historic meeting of the Bar Standards Board last night. The board met to consider recommendations from its working group on alternative business structures to determine ...
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Professional indemnity costs rise by £15m
Solicitors paid £15m more to insurers for professional indemnity insurance this year, Solicitors Regulation Authority figures have revealed. The cost of insuring the profession rose from £226m in the 2008/09 indemnity year, to £241m in 2009/10, a rise of 7%. Between them, ...
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Lawyers praise ‘brave new world’ for mental health
Mental health lawyers have welcomed the publication of a government plan to support people with mental health problems in the criminal justice system. The government published its five-year delivery plan last week for implementing the Bradley Report’s 82 recommendations for improving the way people with mental ...
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Legal Services Board issues proposals on ABS regulation
The Legal Services Board has published a consultation paper outlining the core principles it expects all licensing authorities (LAs) to use in regulating alternative business structures, as it moves towards the next stage in liberalising the delivery of legal services. The paper proposes removing restrictions that ...
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Law firms face hefty fines for data losses
Law firms could face a £500,000 fine if they lose unencrypted laptops or data sticks containing personal information, under new proposals. A government consultation sets out new powers for the information commissioner to levy hefty fines on organisations that breach the Data Protection Act 1998. ...