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Separate representation for lenders and borrowers in conveyancing transactions “should be the norm”, a senior manager at insurer Zurich has said. Michael Blüthner Speight described the increased cost would be “minimal”.

The Bar Standards Board (BSB), which predicted at one point last year that it would authorise 400 firms in 2015, has authorised only 32 in its first four months as an entity regulator, it has emerged. Meanwhile it may not be regulating alternative business structures until later next year.

The Solicitors Regulation Authority (SRA) is investigating two law firms which it said should have closed at the end of last year, having failed to find indemnity insurance.

A total of 49 firms are heading for closure after failing to secure indemnity insurance, the Solicitors Regulation Authority has said. This compares with 138 which were forced to shut for the same reason last year.

The Solicitors Regulation Authority (SRA) has published its first decision fining a law firm for not closing down properly after failure to secure indemnity cover by the end of the extended policy period (EPP).