What does the future of conveyancing look like?

The digital transformation of the legal sector will “bank both time and cost savings” at the expense of automating key solicitor roles, an industry review has found. The finding forms part of the Council for Licensed Conveyancers’ (CLC) new paper,

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Just one third of barristers’ chambers report growth as rising costs bite

The rising cost of doing business is preventing almost two thirds of barristers from growing their practice, new research has revealed. Legal analyst LexisNexis, who publishes the annual figures, say the challenges facing legal professionals are shifting due to rapid

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One in five law firms fail money laundering assessments, review shows

Around a fifth of law firms would fail money laundering compliance assessments if they were asked to complete them on the spot, a major new study has revealed. The report, published by the legal regulator, the Solicitors Regulation Authority (SRA),

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Legal sector “shockingly” vulnerable to cyberattacks, say experts

Cybercrime represents the single biggest threat to the legal sector, a major new study has revealed. The finding forms part of the University of Portsmouth’s Centre for Counter Fraud Studies research into risks faced by law firms in 2019. Although

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Why should solicitors use third party managed accounts?

Third party managed client accounts (TPMAs) may reduce the risk of cybercrime and money laundering, a study has revealed. The finding forms part of new research published by payment processor Shieldpay ahead of plans to allow licensed conveyancers to use

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Get up to speed with new SRA Accounts Rules

New guidance released this month will help prepare solicitors for the introduction of new Standards and Regulations in November. Published by the legal sector regulator, the Solicitors Regulation Authority (SRA), the guides are designed to keep the sector compliant with

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Government U-turns on probate fee hikes

Plans to hike probate fees to up to £6,000 have been scrapped, it has been revealed. The changes, which had been described by experts as a “tax on grief”, were proposed by the Government last November. Under the new system,

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Millions in funding available as Law Society announces new legal innovation challenge

The Law Society for England and Wales has invited law firms to take part in a new innovation challenge to develop technology to improve responsible data sharing in the legal sector. Leading the challenge, UK Research and Innovation body Innovate

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How to shield clients from Friday afternoon fraud

A cybercrime specialist has reiterated the dangers of using email communications to finalise house purchases following a spate of conveyancing scams. The scam, known as ‘Friday Afternoon Fraud’, involves tricking unsuspecting buyers into sending house purchase monies to a fraudster’s

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Succession planning: could an alternative business structure help your law firm live on?

Two non-solicitor daughters have converted their late mother’s law firm into an alternative business structure (ABS) to ensure the family’s legacy. The story, first reported in specialist legal publication Legal Futures, demonstrates how ABS conversion can be used by solicitors

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