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01 February 2013 / Dr Jon Robins
Issue: 7546 / Categories: Opinion , Legal services , Profession
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A touch of brilliance?

As a new legal services provider enters the market, Jon Robins investigates how the profession is responding to change

In the week that saw the emergence of Brilliant Law, the most exciting development in the newly liberalised world since the last one, a “super-survey” revealed the not very surprising picture that life for much of the incumbent profession was far from brilliant.

Research published by the Ministry of Justice (MoJ), Law Society and Legal Services Board (LSB)—heavyweight “both literally and metaphorically”, according to a Law Society Gazette editorial—concluded that recession and structural changes were “combining to create a turbulent environment” for the solicitors’ profession.

Triple whammy

No news there, then. The Gazette suggested a profession coping well with an “unprecedented triple whammy” and “making a pretty good go of it”. Well, that’s one way of reading it.

The report’s authors described the position of private practice firms’ as “increasingly precarious”. “The recession has had a significant impact on demand for legal services,” said Professor Pascoe Pleasence, Dr Nigel Balmer

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MOVERS & SHAKERS

Signature Litigation—Catherine Naylor

Signature Litigation—Catherine Naylor

International fraud and asset recovery offering boosted by partner hire

Stevens & Bolton—Alexa Payet

Stevens & Bolton—Alexa Payet

Private wealth disputes team adds contentious probate specialist

Morgan Lewis—Paul Feldberg

Morgan Lewis—Paul Feldberg

Firm strengthens investigations and sanctions capabilities with London partner hire

NEWS
Cheshire West, which established an ‘acid test’ for deprivation of liberty safeguards, has been overturned by the Supreme Court
The Chancery Division and other segments of the High Court are to be replaced by a new Business and Property Division (BPD), in a major civil justice shakeup
Law firms that hold client money will need to file annual accountants’ reports and make a declaration, the Solicitors Regulation Authority (SRA) confirmed this week
Two district judges and a tribunal judge have been sanctioned for delays in delivering judgments and orders
Private equity (PE) investment into UK law firms halved to £250m last year, but deal volume rose, according to research by Acquira Professional Services’ Momentum private equity market tracker
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