In the long-awaited judgement in the case Halmer ./. Rechtsanwaltskammer München (Case C-295/23) delivered on December 19, 2024, the European Court of Justice (ECJ) ruled that a national law prohibiting the participation of purely financial investors in a law firm does not contravene against EU-law. The Court concluded that this restriction of the freedom of…
Arizona hits new milestone under loosened law firm ownership rules
Reuters has reported that Arizona’s Alternative Business Structures (ABS) programme, which allows non-lawyers to co-own law firms, has reached 101 approved entities as of September 2024. The Arizona Supreme Court recently approved seven more applicants, including an accident law firm and Rocket Lawyer. Arizona was the first U.S. state to legislate to remove non-lawyer ownership…
Malaysia’s legal profession act 1976 amendment bill on track to becoming law
On 6 December 2024, the Malaysian Bar issued a press release on the Legal Profession (Amendment) Bill 2024 (“Amendment Bill”). Once enacted, the amendments to the Legal Profession Act 1976 (LPA 1976) will introduce significant reforms aimed at modernising the legal profession, improving lawyer welfare, and strengthening regulatory oversight. A key amendment will allow lawyers…
New York will adopt NextGen bar exam, considers shifts in state-law tests
The American Bar Association (ABA) Journal reports that the New York Court of Appeals has announced the adoption of the NextGen bar exam, making New York the 30th jurisdiction to implement the new format. While transitioning to NextGen, the state is also considering modifications to its state-specific law component, potentially introducing an in-person examination. The…
Consultation on the draft business plan and budget for 2025/26 of the Legal Services Board of England and Wales
The Legal Services Board (LSB) of England and Wales has proposed a new draft business plan for 2025/26, aiming to address systemic challenges in the legal sector and advance its ten-year strategy for delivering fairer outcomes, stronger confidence, and better services. This plan builds on previous initiatives while targeting new priorities to enhance regulation and…
Annual report of the Victorian Legal Services Board and Commissioner
In its annual report, published on 28 October, the Victorian Legal Services Board and Commissioner (VLSB+C) set out the results of its work on legal practice within the legal profession. has placed a strong focus on enhancing the experiences of both lawyers and consumers, marking a significant step forward in improving the quality and accessibility…
Phase 2 of the national study on wellness in the Canadian legal profession is released
The second phase of the national study on wellness in the Canadian legal profession, released in October 2024, provides critical insights into the mental, physical, and emotional challenges faced by legal professionals across Canada. Building on the 2022 findings from Phase I, this phase delves deeper into regional contexts, offering 12 distinct reports for law…
Dedicated guidance issued to support in-house solicitors in England and Wales
On 18 November 2024, the Solicitors Regulation Authority (SRA) released comprehensive guidance tailored to support the over 34,500 in-house solicitors working across England and Wales. This initiative, developed in response to stakeholder feedback and issues highlighted in the SRA’s 2023 thematic review, aims to address the unique challenges faced by in-house lawyers across diverse sectors…
Special bulletin on the use of the legal profession in money laundering and sanctions evasion in Canada
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has issued a Special Bulletin in October 2024 highlighting the role of the legal profession in facilitating money laundering, terrorist financing, and sanctions evasion. While most legal professionals conduct legitimate transactions, their specialized knowledge and services, such as managing trust accounts, facilitating real estate transactions,…
Legislation to strengthen Australia’s anti-money laundering and counter-terrorism financing regime has passed parliament
Australia has strengthened its anti-money laundering and counter-terrorism financing (AML/CTF) regime with the passage of the AML/CTF Amendment Bill 2024 through Parliament. This legislation is intended to modernise Australia’s fight against financial crimes. Key features of the legislation Expansion of AML/CTF coverage: High-risk services provided by, amongst others, lawyers, accountants, trust and company service providers…