News – Page 208
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Clifford Chance partners take 9% hit in ‘disappointing’ year
Profit per equity partner (PEP) dropped by 9% to £1m at Clifford Chance in 'disappointing' 2012-13 financial results for the magic circle firm. Profits fell 6% to £404m, on a turnover drop of 2% to £1.271bn, figures released today show. Managing partner at Clifford Chance David Childs said the results ...
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Criminal bar chair backs Law Society’s stance on legal aid
The chairman of the Criminal Bar Association has called for unity in the profession and attempted to quell ‘disquiet’ over the Law Society’s decision to share with the Ministry of Justice its proposals for an alternative to price-competitive tendering (PCT). In his weekly online comment, Michael Turner QC said that ...
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Mystery surrounds legal training report
The Legal Education and Training Review (LETR) report remains under wraps as the profession’s regulators, now in possession of the completed document, continue to cite ‘commercial confidentiality’ for withholding its disclosure.
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SRA vigil as over 50 law firms fear collapse
The Solicitors Regulation Authority is continuing to supervise more than 50 firms at risk of financial collapse, after reporting a figure of 56 in March.
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Legal firms looking to outsource back-office work
Outsourcing providers say they are experiencing a wave of interest from law firms looking to transfer the employment of back-office staff.la
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Lexcel divide could help cut PII premiums
The Law Society is considering expanding its Lexcel practice management standard scheme by creating separate quality marks for sectors such as private practice and in-house.
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Tell clients to donate more in wills, charities group urges
A charities group has called on solicitors to remind clients to consider leaving money to good causes in their will, after a trial scheme increased legacies left by £1m.
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Quindell strikes pioneering claims deal with Honda UK
Listed personal injury consolidator Quindell is to offer accident management services to all UK Honda customers.
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Culture change needed at BSB, says super-regulator
The Bar Standards Board will encounter ‘significant challenges’ in emulating the Solicitors Regulation Authority
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Clients still failing to ‘shop around’
The Legal Services Board has called on regulators to provide clear information on provider performance
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LSA now better reflected in firms’ business plans
The proportion of firms that expect to change their business strategy in response to the Legal Services Act has more than doubled in the last three years
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Fixed fees in legal aid ruled unlawful – in New Zealand
The Court of Appeal in New Zealand has ruled that a planned legal aid shakeup to introduce fixed fees is unlawful.
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LSB relies on regulators to see off DBA ‘mis-selling’ fear
The Legal Services Board will not introduce specific guidance for damages-based agreements
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‘Simples’: Compare The Market owner BGL buys Minster Law
BGL Group, the owner of price-comparison site Compare the Market, has bought personal injury specialist Minster Law
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Students warm to ABSs
A clear majority of law students (63%) believe that the advent of alternative business structures (ABSs) will provide wider employment opportunities for lawyers.
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Threat to jobs at DWF
Job losses are expected at national firm DWF after it announced it is reviewing over 80 posts
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Society victory over banks’ derivatives products
The Law Society has persuaded the government to allow retail banks to offer derivatives products to business customers
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LETR ‘delayed by regulators’
The much-delayed final report of the Legal Education & Training Review (LETR) research team was completed on time and could have been published as planned in December 2012, but was stalled when the regulators insisted on a version three times the size of the original, the Gazette can exclusively reveal.
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Immigration clampdown ‘danger’ to legal sector
The future prosperity of Britain’s world-leading law firms could be jeopardised by headline-grabbing immigration reforms, the Law Society has warned.
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‘Don’t ditch quality,’ says Desmond Hudson
Law Society chief executive Desmond Hudson has warned firms to avoid a ‘race to the bottom’ as they seek to survive and prosper in a tough market.