Indemnity cover cut ignores ‘increasing’ number of larger claims (LF)
The number of larger professional indemnity claims is increasing, undermining the case for a cut in the minimum cover for law firms from £2m to £500,000, an industry expert has […]
Trusted advisers, by choice (LSG)
Legal executives could be running their own practices by next year if the Legal Services Board’s consultation gets the green light. No doubt these proposals will have met with some […]
First-time buyer numbers plummeting, says gloomy NAEA (PIE)
First-time buyers are being squeezed out of the market, with a 20% monthly drop in the number of first-time purchases in June.
will-writers’ trade body launches unique ABS (LF)
The Institute of Professional Willwriters (IPW) has won approval for a unique alternative business structure (ABS) that will enable its members and others to access related legal services for their […]
Buckland appointment ‘an insult to lawyers’ (LSG)
Robert Buckland’s appointment as solicitor general is an ‘insult to lawyers’, his Labour shadow said today, after it emerged Buckland had failed to tell the prime minister that he had […]
‘Most buyers will be paying 3% Stamp Duty within two years’ (PIE)
The average home buyer will be saddled with a Stamp Duty bill of at least £7,500 within two years if house price inflation continues at its current pace, estate agency […]
Does the User Clause in your Lease Breach Competition Law?
In April 2011, changes to UK competition law meant that leases and other land agreements became subject to the rules in Chapter I of the Competition Act 1998, which prohibit […]
LSB attacks SRA’s “over-engineered” approach to MDPs and non-lawyer owners (LF)
The Legal Services Board (LSB) has attacked the Solicitors Regulation Authority (SRA) for having “over-engineered” its approach to regulating multi-disciplinary alternative business structures (ABSs) and to approving non-lawyer owners.
Lloyds defends solicitor debt collection letters, saying: “Times have changed” (LF)
Views on transparency and clarity “have changed” since Lloyds Bank first started sending letters to debtors under the name of a solicitors’ firm, its group chief executive has told MPs.
Nationwide warns firms tempted by lower cover (LSG)
One of the country’s biggest mortgage lenders has issued a warning to solicitor firms attracted by the proposed new mandatory minimum for professional indemnity insurance.
MPs grill Lloyds executive over ‘law firm’ debt letters (LSG)
MPs today lambasted a banking chief over ‘sham’ letters to lenders that purported to be from a solicitor’s firm.
‘Accountants have £500,000 indemnity limit, so why can’t we?’ SRA asks LSB (LF)
The Solicitors Regulation Authority (SRA) has reminded the Legal Services Board (LSB) of its decision to allow accountancy firms wanting to carry out legal work to have minimum indemnity insurance […]