The Solicitors Regulation Authority (SRA) has heightened efforts to enforce transparency among law firms.Since May 2023, nearly 500 firms have faced warnings or fines for failing…
The Legal Ombudsman has issued guidance on lawyer fee deductions under conditional fee agreements (CFAs).Lawyers must clearly explain any success fees or deductions to their clients…
Law firms struggle with compliance, risking penalties and reputational harm.The Solicitors Regulation Authority (SRA) penalised 475 law firms for not meeting transparency rules.Since December 2018, 439…
Law firms are increasingly moving away from traditional partnership models to secure external funding, a new report reveals.Competitive pressures in the legal field have intensified, leading…
A prominent law firm in Manchester opts for employee ownership over lucrative private equity offers.Myerson Solicitors, with 150 employees, becomes completely employee-owned, marking a significant shift…
A former conveyancer has successfully raised £850,000 for a new tool designed to simplify the conveyancing process.The funding includes a grant of £292,000 awarded by Innovate…
The Legal Services Board (LSB) has postponed the approval of increased contributions to the SRA Compensation Fund, marking an unprecedented delay.This postponement pertains to increased contributions…
Definely, a pioneering legal-tech startup based in London, has secured $7 million in Series A funding. This investment marks a significant milestone in its mission to…
In the face of economic challenges, law firms must adopt innovative strategies to maintain growth. The coming year presents a daunting landscape, especially for mid-sized firms.…
Every year, the 1 October professional indemnity insurance deadline prompts significant merger and acquisition (M&A) activity within UK law firms. Fletchers Group has expanded by acquiring…
