Lawyers will likely pay higher fees to cover Axiom Ince collapse, SRA says November 14, 2023 The regulatory body for the legal sector has said today it will probably need to increase the annual levy solicitors pay to the authority in order to cover the collapse of law firm Axiom Ince.
Axiom Ince: SFO makes seven arrests as it probes fraud claims at collapsed firm November 14, 2023 The Serious Fraud Office confirmed today that it is investigating allegations of fraud surrounding the collapse of law firm Axiom Ince, announcing it has arrested seven individuals and carried out multiple raids.
Deloitte lawyer referred to disciplinary tribunal over ‘unwanted kiss’ at City Hotel November 9, 2023 The legal regulator has referred a former Deloitte solicitor to a disciplinary tribunal over a "inappropriate" kiss at a work social event.
Ince Group: The law firm collapse that has rocked London’s legal sector November 2, 2023 Ince collapsed into administration earlier this year. But the bigger crisis came after it was rescued by a law firm virtually no one had heard of.
Law firms face fines or closure over ‘incompetent’ solicitors as watchdog renews crackdown February 1, 2023 The UK’s solicitors’ watchdog has warned that law firms could be fined or shut down if they fail to deal with incompetent solicitors, as it looks to take tougher action against firms and lawyers that fail to meet the regulator’s expectations. The Solicitors Regulation Authority (SRA) said yesterday that it intends to “broaden the ways” [...]
UK law firms plunged into bankruptcy by soaring insurance premiums January 17, 2023 Dozens of UK law firms have collapsed into bankruptcy over the last year due to being unable to obtain the insurance policies they need to continue operating, new research shows. The rising cost of taking out professional indemnity insurance (PII) policies – that cover any losses arising from negligent services – caused nine UK [...]
Solicitors’ watchdog shuts down four Metamorph owned firms December 14, 2022 The UK’s legal watchdog has forcibly closed four law firms owned by national conglomerate Metamorph following reports of directors resigning and staff being left unpaid. The Solicitors Regulation Authority (SRA) also seized cash and documents from the law firm, which was set up by British entrepreneur Simon Goldhill in 2016 with the aim of [...]
Solicitors Disciplinary Tribunal chief steps down following office lease fiasco December 5, 2022 The head of the Solicitors Disciplinary Tribunal (SDT) has stepped down from her position following news the tribunal is being forced to exit its offices. SDT chief executive Geraldine Newbold’s exit follows news solicitors will be forced to pay an extra £1.2m towards the tribunal’s new premises after its landlord decided to sell the building [...]
Law Society backs calls to smash City’s ‘class ceiling’ by boosting social mobility November 30, 2022 The Law Society today backed calls to break the “class ceiling” by boosting social mobility in the City. The solicitors’ body came out in support of the City of London’s push towards 50 per cent of senior leaders in the financial and professional services sector coming from non-professional backgrounds. The Law Society said it [...]
Solicitors watchdog should ‘reconsider’ plans for turnover-linked fines, Law Society says November 15, 2022 The Solicitors Regulation Authority (SRA) should “reconsider” plans to let itself begin serving fines equivalent to five per cent of a law firm’s annual revenues, the Law Society has said. The Law Society said fines matching five per cent of a law firm’s annual revenues would be “excessive and unjustified” as it urged the SRA [...]