Solicitors will need to pay an extra £50 per year to the Compensation Fund, which compensates victims of solicitor dishonesty or incompetence. The Solicitors Regulation Authority (SRA) said the level of contributions for 2018/19 will rise from £40 to £90 for solicitors, and from £778 to £1,680 for firms (an increase of £902). The SRA highlighted the dangers of solicitor involvement in dubious investment schemes in its reasons for increasing the levy for the second year running. SRA Chief Executive, Paul Philip, said: ‘The rise in contributions reflects the forecasts of increased pressure on the Fund.’
14 June 2018
Contributions to Compensation Fund to rise
MOVERS & SHAKERS
Gateley Legal—Jack Kelly
Gateley Legal expands Midlands residential development team
Gibson Dunn—Richard Surtees
Gibson Dunn adds employee benefits and executive compensation practice in London with partner Richard Surtees
Laytons ETL—Alec Cameron
Laytons ETL appoints new partner and head of intellectual property disputes
NEWS
A series of recent decisions has clarified important principles across property law, from perpetuities to lease renewals and public rights over land
Employers cannot rely on wellbeing services alone to defend workplace stress claims after a High Court decision awarding almost £1m to an overworked employee
Andy Burnham's brand of 'Manchesterism' could offer fresh thinking on legal aid and access to justice if it reaches Westminster, according to Roger Smith, NLJ columnist and former director of JUSTICE
The constitutional fallout from a change of prime minister, rather than the politics, is under scrutiny as questions arise over the limits of executive authority in a leadership transition
The legal profession is undergoing a fundamental shift from selling services to creating technology-enabled products, according to Professor Luke Mason, Head of School of Law at Regent's University London
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