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LSB backs end to minimum salary and to IFA referral requirement
Thursday, 10 January 2013Controversial rule changes that scrap the minimum salary for trainee solicitors and allow solicitors to refer clients to tied financial advisers were approved last month by the Legal Services Board. In both cases the LSB found that there was no reason to refuse the applications.
Tags: financial services, Legal Services Board, minimum salary
Posted in hrtraining, Latest news, Legal Services Board, Solicitors
Fighting the good fight, if not always winning
Thursday, 24 May 2012The last week has seen both a victory and a defeat for lawyer lobbying, and perhaps the most fearsome legal lobbying machine – the Bar – crank into action. The victory came in the surprise climbdown by HSBC over its restricted conveyancing panel. A global banking giant felled by a campaign spearheaded by the Law Society but with strong support from the likes of the Bold Group. It was pursued at a national level, with coverage in several national newspapers, and also at a local level, with solicitors talking to their estate agent contacts.
Tags: conveyancing, conveyancing quality scheme, Jackson report, Law Society, legal aid, Legal Services Act, Legal Services Board, minimum salary, Solicitors Regulation Authority
Posted in Blog
SRA scraps minimum salary for trainees
Thursday, 17 May 2012The minimum salary for trainee solicitors will be scrapped on 1 August 2014, the board of the SRA decided yesterday, saying it is not the job of a regulator to control wages. Firms will be required to pay the national minimum wage of £6.08 an hour.
Tags: minimum salary, Solicitors Regulation Authority, trainee solicitors
Posted in hrtraining, Latest news, Solicitors
Scrapping minimum salary will stimulate more, if lower-paid, training contracts, says SRA
Thursday, 3 May 2012Scrapping the minimum salary for trainee solicitors is likely to stimulate more training contracts – but the majority will pay below the current minimum level, a Solicitors Regulation Authority report has concluded. However, the negative impact on diversity is not as clear-cut as critics think.
Tags: equality and diversity, minimum salary, Solicitors Regulation Authority
Posted in hrtraining, Latest news, Solicitors
Trainees on housing benefit is “not the image that befits the profession”, Law Society tells SRA
Thursday, 12 April 2012The prospect of trainee solicitors claiming housing benefit and taking on second jobs because the minimum salary has been scrapped “is not the type of image that befits the profession”, the Law Society has claimed.
Tags: Law Society, minimum salary, Solicitors Regulation Authority
Posted in hrtraining, Latest news, Solicitors
SRA: trainees could be paid £2.60 an hour in first year if minimum salary is scrapped
Friday, 23 March 2012The Solicitors Regulation Authority is to consider retaining the minimum salary for trainee solicitors at the level of the national minimum wage after discovering that without it trainees would be classed as apprentices and so could be paid just £2.60 an hour in their first year – less than £5,000.
Tags: minimum salary, Solicitors Regulation Authority, trainee solicitors
Posted in hrtraining, Latest news, Solicitors
News round-up: Kennedys eyes investment, run-off cover call, Manchester firms’ growth stalls, and more
Monday, 27 February 2012Our latest news round-up reports on City firm Kennedys’ likely need for external investment, Law Society lobbying over run-off cover, Mishcon’s new private client service, a review of Manchester firms’ financials and an anti-HSBC petition.
Tags: ABS, Alternative business structures, conveyancing, minimum salary, professional indemnity insurance
Posted in Latest news, News In Brief
SRA bids to scrap minimum salary for trainees
Thursday, 12 January 2012There is no regulatory justification for retaining the 30-year-old policy of minimum salaries for trainee solicitors, the Solicitors Regulation Authority has said. It also admitted to concerns that the Legal Education and Training Review’s timetable is too tight.
Tags: bar standards board, ILEX Professional Standards, legal education and training review, minimum salary, Solicitors Regulation Authority, trainee solicitors
Posted in hrtraining, Latest news, Solicitors