News – Page 127
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NewsLegal executive-only firms mooted for next year
Super-regulator consults on granting CILEx entity regulation powers.
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NewsGrenadian wins LPC fight despite murder conviction
Selwyn Strachan had been sentenced to death in 1983 after a widely criticised trial.
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NewsWonga threatened customers with fake law firms
The UK’s biggest payday lender has entered an agreement with the Financial Conduct Authority to compensate around 45,000 customers.
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NewsPII changes threaten ‘solicitor brand’, says City society
City of London Law Society raises concerns about SRA plans to reduce minimum compulsory PII cover to £500,000.
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NewsSRA urged not to dispense with accounts requirement
The SRA has proposed to abolish the requirement for firms to have and submit an accountant’s report every year.
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NewsKenny quits LSB for private sector
Chief executive to step down from super-regulator after six years in post.
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NewsFirms underestimate real risks to business
Law firms tend to overestimate the risks that ‘loom largest’ and underestimate those that pose the real threat, a Law Society conference heard last week.
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NewsPractising certificate fee set to fall by 17%
Proposed levy of £320 is subject to Law Society Council approval and member consultation.
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NewsConsumer watchdog raps PII reform plans
Panel cites ’weakness in the evidence base’ for cutting minimum cover.
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NewsTrain all youth justice lawyers, says damning report
Cross-party group of MPs and peers calls for mandatory training for lawyers working in youth justice.
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NewsPII reforms set to be approved on 2 July
tabletSociety warns that ‘hundreds’ of firms could be thrown off conveyancing panels, but the SRA is poised to forge ahead with far-reaching regulatory changes.
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NewsCity firm Bates Wells Braithwaite becomes ABS
The firm has promoted accountant Jim Clifford to equity partner.
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NewsMalaysia liberalises its legal market
Foreign firms will be able to apply for three practice licences under the country’s newly liberalised regime.
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NewsOsborne to extend Libor legislation
Treasury promises to crack down on rogue banks and traders by extending Libor legislation.
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NewsQASA fight pushes LSB legal spend up 10-fold
Accounts show regulator’s overall spending falling slightly.
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NewsSRA confirms another month of falling firm numbers
Just 30 firms closed in February – the most recent month that figures are available – but over the course of the past year 1,094 firms have gone.
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NewsConsumer panel to use FoI requests for lawyer data
Watchdog wants to collate more information on lawyers’ performance in the coming year.
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NewsCPD ‘already embedded in firms’, says SRA
Research finds firms do not need compulsory 16-hours CPD as they already have best practice in place.
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NewsWork yourself out of existence, Grayling tells super-regulator
Chris Grayling said the LSB should work towards its demise to reduce ‘time-consuming and intrusive’ legal regulation.