The Legal Services Board has said that a number of regulators are not meeting its requirements to provide a list of those they regulate and to include information about their disciplinary record. With the current trend towards encouraging firms to be transparent on service as well as price very much at the forefront of the regulators’ minds, firms will be interested to see what level of detail about their lawyers might reach the public domain the future.Read more
CQS has now published its new Core Practice Management Standards (CPMS) with a deadline of 1 May for firms to comply with the requirements.
The amended standards were announced in November last year and firms will need to review their documentation in order to ensure compliance.
Your firm’s website could be one of the 500 chosen for random checks by the SRA. The regulator said yesterday that it intends to carry out the checks to ensure that they are meeting new requirements for price transparency. Informal reviews carried out to date suggest that many firms may not escape closer scrutiny and could face a rebuke or possibly a fine for non complianceRead more
The SRA is expecting firms to be fully compliant with the new Standards and Regulations by July 2019 with no ‘grace period’ allowed. This means that firms need to plan now in order to be fully compliant on day one of the new regime. With further guidance expected this month and the regulator warning there will be no ‘light touch’ in its approach to compliance – we’d urge firms to book an appointment with Legal Eye’s experienced risk consultants in the next few weeks in order to ensure there are no nasty surprises this summerRead more