PROFESSIONAL UPDATE FROM THE LAW SOCIETY
30/03/09
Advice on changes to the regulatory framework from 31 March 2009
The Law Society has issued practice notes on firm-based regulation and legal disciplinary practice. From 31 March 2009, provisions in the Legal Services Act 2007 and amendments to the Solicitors' Code of Conduct will enter force. These will permit the new LDP structure and introduce firm based regulation whereby all legal practices, regardless of size, will be regulated as a firm or recognised body. All managers and employees of a recognised entity should be aware of the changes.
Practice note on firm based regulation <http://www.emailhosts.com/ct/ctcount.php?key=008396500092507200156372>
Practice note on legal disciplinary practice <http://www.emailhosts.com/ct/ctcount.php?key=008396510092507200156372>
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Regulation of corporate legal work: major change proposed
An independent report launched yesterday into how corporate legal work should be regulated recommends urgent and rapid modernisation to create a robust regulatory regime that is fit for purpose. The report, commissioned by the Law Society and written by Nick Smedley, calls for:
* greater expertise and understanding at the Solicitors Regulation Authority
* greater engagement with the profession and its clients
* a sophisticated regulatory approach recognising how different parts of the profession vary
Read a Law Society press release announcing the report <http://www.emailhosts.com/ct/ctcount.php?key=008396520092507200156372>
Read Nick Smedley's report <http://www.emailhosts.com/ct/ctcount.php?key=008396530092507200156372>
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Abbey mortgage panel - update
Paul Marsh, Law Society president met with Abbey on 24 March to explain the consequences of their decision to remove 6,050 solicitors’ firms or branch offices from the panel of solicitors able to act for the company and its subsidiaries in mortgage transactions. The full outcome of the meeting will be announced shortly, but some firms have already been reinstated to the panel as a consequence of our actions, and Abbey are continuing to reinstate solicitors if they apply.
Read more <http://www.emailhosts.com/ct/ctcount.php?key=008396540092507200156372>
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PAYE returns: firms must file online
The Law Society has issued a practice note on filing PAYE returns to HM Revenues and Customs. From 6 April 2009, firms with 50 or more employees must start filing online. This practice note explains the requirements, as well as detailing the benefits of filing PAYE returns in this way.
Read more <http://www.emailhosts.com/ct/ctcount.php?key=008396550092507200156372>
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Save 7.5% on overseas holiday homes insurance
Hiscox is now offering a 7.5% saving on overseas holiday homes insurance for Law Society members. This comprehensive cover includes full accidental damage and emergency travel in the event of a claim.
Find out more <http://www.emailhosts.com/ct/ctcount.php?key=008396560092507200156372>
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Careers crossroads workshop
The Law Society is running a workshop for solicitors who are approaching retirement, have had a career break or have taken redundancy. The workshop will be led by Sapphire Partners, who have a strong track record in career advice for senior professionals.
Read more and book a place <http://www.emailhosts.com/ct/ctcount.php?key=008396570092507200156372>
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