Alternative business structures
Leading ABS set to open up entry to the law through 'Learning Academy'
Co-operative Legal Services will launch a ‘Learning Academy’ later this year that will offer all staff training for a range of skills and qualifications, including becoming solicitors and chartered legal executives.
ABS first as accident management company buys law firm
Vamco has become the first accident management company to buy a law firm after being awarded an alternative business structure (ABS) licence. The Surrey-based business has acquired Kingsley Law, previously part of the Nesbit Law Group.
National firm to use ABS licence to target non-legal acquisitions
National law firm Simpson Millar is eyeing up the acquisition of non-legal businesses as part of its expansion plans now it has secured an alternative business structure (ABS) licence, it has revealed.
Bristows becomes first large City firm to win ABS status
Commercial law firm Bristows has been granted an alternative business structure (ABS) licence, becoming the largest City practice so far to have taken the plunge. The 34-partner, 74 fee-earner firm is best known for its intellectual property work,
Caan returns to the legal den as he adds virtual law firm to portfolio
Virtual law firm Excello Law has become the second legal practice to join forces with ex-Dragon’s Den star James Caan as part of its bid to become the leading supplier of legal services to the SME sector. The firm has joined Knights Solicitors in Mr Caan’s Hamilton Bradshaw portfolio of companies.
Specialist PI firm targets white-label deals with insurers after winning ABS licence
The latest personal injury law firm to become an alternative business structure is eyeing up the opportunity of offering insurers a specialist white-label service, it has emerged. Without the status, “you can’t get off the starting blocks,” said its chief executive.
If at first you don’t succeed… SRA tries again to increase £2,000 fining power
The Solicitors Regulation Authority is again lobbying the government to raise the amount it can fine traditional law firms after its previous attempt to catapult the limit from £2,000 to £250m was rejected last autumn. The revelation came in a consultation on proposed fining guidelines.
ABS specialising in claims by builders and cabbies eyes external investment
A law firm that has innovative web-based personal injury brands, including those directed at the building trades and taxi drivers, is to investigate external investment after winning its alternative business structure (ABS) license.
Admiral "set for deal" with Lyons Davidson to safeguard referral fee income
Admiral Insurance and national law firm Lyons Davidson – which received its alternative business structure licence in November – are having talks about linking up, but it will not involve the law firm being acquired, Legal Futures can report.
Government closes door on accountants' last hope to change privilege rule
The government does not intend to extend legal professional privilege to non-lawyers, the Ministry of Justice confirmed yesterday after accountants urged Parliament to level the playing field for multi-disciplinary entities.
Blog
Amplifying reach through employee-driven thought leadership
Nine in 10 executives believe thought leadership is critical to building authority, yet only a quarter feel they have implemented a robust strategy.
Divorce escrow: asset sales before final settlement
When significant matrimonial assets are sold before a final financial order is agreed, holding the proceeds safely and neutrally can present real practical challenges.
AML lacks clarity – and standards are suffering
If firms are buckling under the pressure of AML regulations, subject to ever-increasing fines, then something is clearly not working as it should be.
