A barrister portal scheme operated by the North West Legal Consortium, a group of over 30 local authorities, has been condemned as “scandalous” by the Institute of Barristers’ Clerks (IBC).
The Legal Services Board has been praised for extending the time limit for its decision on whether to approve plans to cut the minimum indemnity limit for law firms, which meant the Solicitors Regulation Authority was unable to implement it this year.
Alternative business structure Quindell plc today proclaimed itself the largest personal injury law firm in the UK and the “largest public company law firm globally” as it announced its results for the first half of 2014.
The Solicitors Regulation Authority has committed to opening up its register of solicitors to comparison websites, while the Legal Ombudsman has today made its decisions available in a downloadable format.
Legal Futures Blog
At present, the main option for a group of barristers wishing formally to collaborate and share profits is to form an SRA-regulated law firm or, if non-lawyer managers are involved, an SRA-regulated alternative business structure (ABS). The impending introduction of entity regulation (and most likely ABSs) by the BSB will tip things on their head and create additional options for entrepreneurial barristers.