News – Page 132
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Macfarlanes beats magic circle
Long established City of London firm posts highest PEP yet for 2014/15.
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PEP fall at Freshfields blamed on accounting changes
Global managing partner hails ‘solid’ performance in face of ‘strong headwinds’.
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Ashurst bucks trend by posting dip in profits
PEP slides nearly 4% in a ‘year of consolidation’ for the international firm.
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Clifford Chance profits slip as weak euro takes effect
Magic circle firm ‘cautiously optimistic’ despite profits down 2%.
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Solicitors ‘ready to innovate but wary of change’ – SRA survey
Research from regulators reveals that 25% of ‘legal service providers’ have introduced a new or improved service since 2012.
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Paralegals sign up for voluntary ‘regulation’
Register founded by the Institute of Paralegals and the National Association of Licensed Paralegals went live this week.
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Greek crisis hits international firms
Regulatory duty to ensure safety of client money poses problems for solicitors.
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Scots seek to oust Welsh as estate agency watchdogs
Law Society of Scotland fears ABSs will be subject to dual regulation under UK Estate Agents Act.
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Law firm mergers dip as economy recovers
The number of law firms in England and Wales has remained steady at over 10,300 in 2015, following a steady decline.
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PDS lawyers move in as direct action bites
Legal aid lawyers picket Manchester Magistrates’ Court.
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New PermSec for MoJ
A barrister who began his career as a Home Office lawyer is to be the next permanent secretary at the Ministry of Justice, the government revealed last week.
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Costs curbs for clin neg confirmed
The government has confirmed that it will seek to legislate on fixed costs for clinical negligence claims worth up to £100,000.
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Clients may get indefinite time limit on legal complaints
New rules will also increase the time limit for consumers to bring a complaint after final contact with provider.
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Practitioner groups condemn attacks on dissenting firms
Firms continuing to take on new legal aid work report 'negative comments' and phone abuse.
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Practice note issued on duty to vulnerable
Solicitors could face sanctions if they do not comply with principles on dealing with vulnerable clients.
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Redundancies likely as PI giant plans office closures
Thompsons Solicitors says it needs to restructure the business to remain viable and resilient.
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Costs budgeting rules to be disapplied for three months
Clinical negligence claims in London to be granted release to deal with backlog of delays.
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Olswang cuts debt but partner profit is flat
International firm boosted income by 8% last year but IT investment held down partner earnings.