Their solution: seek out a regulator somewhere, anywhere who can clamp down on such activity. How about calling it a Managed Investment Scheme? Link to article in The Age.
e.law has been in operation since 1999 and is a privately held company with approximately 50 full time staff plus casuals.
Competition setbacks in the banking industry include Westpac’s takeover of St George and CBA’s takeover of BankWest. Also, due to the credit squeeze, the major four banks have almost entirely pushed all other players out of the home lending market. Now the Federal Government is pumping an extra $8 billion into the mortgage market to “support competition”.
Thinking of starting your own practice? Here’s how not to go about doing it. Link to reported judgment. Link to reporting in smh.com.au.
Five Australian firms made it in the top 100 revenue list. Rankings in brackets: Mallesons Stephen Jaques (74); Freehills (86); Minter Ellison (87); Clayton Utz (89) and Allens Arthur Robinson (90) To get a perspective on the size of Australian firms, the combined revenue of these five firms is still less than the individual revenue of any of the top four in the list.
Read Response to outbursts reported on 18 September 2009 below.
Read about Federal Attorney-General Robert McLelland’s outbursts criticising the legal profession and current state of regulation, a new role for consumers of legal services and about New South Wales’ Lawcover itching to compete nationwide for the PI insurance pot of gold. Read the text of the Chief Justice of Western Australia’s speech on “The future of regulating the Legal Profession: Is the Profession Over Regulated?”
National – Further progress towards national regulation of the legal profession which could see a National Legal Ombudsman and the increasing likelihood of a National Practising Certificate.
Alan West CEO NSW Division of the Australian Institute of Conveyancers, writing in their Journal (2nd Issue 2009), states: “the main drivers of acceptance of electronic conveyancing will be the banks” and “the main reason the system designed for Victoria has not worked … is because the main banks want a national system and refuse to get involved with a ‘State’ based system”.
likened to a game show where contestants who are fastest on the buzzer are likely to get first shot at being issued a matter. Contact Legal Practice Intelligence confidentially Tel: 02 9328 7676 or email your say.