SRA compensation fund payout soars by 43% (LSG)
The amount paid out by the compensation fund increased by millions of pounds last year, new figures from the SRA show.
Cyber Criminals ‘Targeting’ Legal Sector (IC)
New research by the SRA has uncovered an increase in the number of cases of cyber crime, with the end result being that client confidence is being eroded.
Chancel Repair Liability – Still In the Dark? (IC)
The ancient Chancel Repair liability, presumed abolished by legislation passed in 2002, is still leaving a sting in the tail. With parish council’s still technically able to impose a charge […]
Legal Services Board approves relaxation of rules on accountants’ reports (LF)
The SRA’s plans to relax the rules around accountants’ reports have been formally approved by the Legal Services Board, meaning that around 1,000 more law firms will not have to submit […]
Gazumping is not all bad news (EAT)
We’re all familiar with ‘gazumping’ – most us have been ‘gazumped’ or indeed been the perpetrators of this practice, for it is by no means an uncommon one.
Open Letter to the President of the Law Society – Chancery Lane, London (IC)
I have over the past 5 years worked hard to introduce efficiencies as well as measures to combat the increasing risks which continue to arise. Much of the work has […]
SRA puts back decision on client account alternative (LSG)
The Solicitors Regulation Authority is to press ahead with a consultation on extending the use of third-party managed accounts as an alternative to the client account.
Proposals for consumer credit regulation adopted by SRA Board
Solicitors should be able to carry out certain consumer credit activities under SRA authorisation as long as their activities are central to the legal services they provide, the SRA Board […]
SRA Compensation Fund pays out over £23 million
The SRA Compensation Fund paid out over £23.8 million in the year to 31 October 2014, latest figures reported to the SRA Board meeting recently reveal.
SRA hits back after Law Society attack on indemnity reforms (LF)
Paul Philip, chief executive of the Solicitors Regulation Authority, has hit back after the regulator’s indemnity insurance reforms were fiercely criticised by the Law Society.
SRA postpones introduction of third-party alternative to client account (LF)
The introduction of third-party managed accounts as an alternative to traditional client accounts will be postponed by at least a year to the end of 2016, the Solicitors Regulation Authority […]
Solicitors free to offer ‘central’ consumer credit (LSG)
Solicitors will be able to carry out certain consumer credit activities under the wing of the Solicitors Regulation Authority – a year after the regulator proposed dropping the responsibility altogether.