Bar’s entity regulation “better and cheaper”, claims solicitor

Print This Post

29 November 2016


Stewart: BSB easy to deal with

Stewart: BSB easy to deal with

Bar Standards Board (BSB) entity regulation is “significantly cheaper and simpler” for sole practitioners and better for clients, according to a solicitor whose start-up law firm is to be regulated by the BSB.

Family practitioner Claire Stewart sought BSB entity regulation for her new practice, Bridge Law Solicitors, in Stockport, Cheshire. The firm, which has just received authorisation, will enable her to focus on commercial dispute resolution as well as family law.

Ms Stewart is a consultant solicitor at Evolve Family Law in Macclesfield. Evolve – itself launched by two solicitors under the BSB’s oversight in August 2015.

She told Legal Futures that she intended to continue with Evolve but that it made sense to create a separate firm: “I can’t really do winding-up petitions while being under the Evolve Family Law banner.”

The BSB was “very easy to deal with”, she said. Its regulation was “more client friendly” than the Solicitors Regulation Authority’s (SRA): “When I was going through all the BSB regulations, the information we have to provide to clients is quite rigorous – more so I would say than… when I was with a firm of solicitors. It’s very transparent.”

Ms Stewart, who was a senior associate at Pannone and then Slater & Gordon for almost 15 years, sat the Bar’s vocational course (as it was then) before transferring to become a solicitor. She said that while at Evolve she had witnessed “how well the BSB was working” as an entity regulator.

The main reason why BSB entity regulation was “a really good opportunity for sole practitioners and small firms” was the lower cost, which she researched before choosing a regulator, she said.

The BSB, whose entity fee structure is based on the number of authorised individuals, charges a single person a £260 application fee plus £330 for authorisation in the first year, and an annual renewal fee of £365. The cost of annual renewal for a two-to-five-person firm is currently £1,000.

The SRA calculates its firm fee on a firm’s turnover. The cost of authorisation for a firm with a turnover between £20,000-£149,999 is £252. For a firm with between £150,000-£499,999, the minimum fee is £837. Both authorisation fees include a £100 application fee.



One Response to “Bar’s entity regulation “better and cheaper”, claims solicitor”

  1. Well done the BSB effective friendly efficient.

    I can vouch for that -thank you

  2. Richard Gray on December 5th, 2016 at 4:42 am

Leave a comment

* Denotes required field

All comments will be moderated before posting. Please see our Terms and Conditions

Legal Futures Blog

The rise of the multi-disciplinary lawyer: A challenge for legal education

Catrina Denvir

The legal profession has been on the receiving end of much hype regarding the impact of technology. Recent commentators purport that the aspiring lawyer must be a triple threat, possessing knowledge of the law, coding expertise, and in-depth knowledge of legal technology. Yet, focusing on legal technology risks overlooking the need for skills that transcend latest fads. Legal technology is a means by which to handle data: to organise it, record it, extract it, analyse it, predict from it and leverage it. Quantitative and statistical literacy – the ability to understand, apply, visualise and infer from data – underpins technological literacy and yet receives very little attention from those who encourage innovation in the legal curriculum.

May 26th, 2017