Alternative business structures
Admiral Insurance mulling ABS option, chief executive confirms
Admiral Insurance is “considering its options” over becoming an alternative business structure, chief executive Henry Engelhardt confirmed yesterday. He indicated that the company is waiting to see the final shape of the ban on referral fees.
Lawyers2you targets London as fuss over A-board highlights advertising sensitivity
Lawyers2you is to become the first legal network to take on London when it launches its first franchise in the east of the city shortly, Legal Futures can reveal. The news comes after it faced criticism in the press for an A-board it used in central Birmingham.
SRA agrees third version of Handbook in six months – with another one set for June
The board of the Solicitors Regulation Authority this week approved the third edition of the SRA Handbook since it went live last October, with a fourth one due before the end of June. The SRA said it recognised the disruption this would cause but argued that the updates have been unavoidable.
BSB outlines framework to regulate ABSs and allow barristers to conduct litigation
The Bar Standards Board has launched its final scheme for regulating advocacy-focused alternative business structures in what it described as a “declaration of intent” to become the regulator of choice for advocates.
Revealed: financial services group set to enter the law with PI firm as 33 stage 2 applications go in
A financial services group is to submit its stage two ABS licence application this week as it bids to add a legal practice to its portfolio, Legal Futures can reveal. It comes as the SRA reveals how many would-be ABSs have filed stage two applications.
LawVest unveils fixed-price law firm combining solicitors and barristers
A groundbreaking business law firm operating entirely on fixed fees and featuring a mix of leading barristers and solicitors opens today, aiming for a market that it claims has been “protected from real competition for too long”. LawVest also plans to become an ABS.
BT seeks ABS licence for claims management arm
The claims management arm of telecoms giant BT has applied to become an alternative business structure, it has emerged. But it is not looking to enter the consumer market.
Exclusive: private equity firm behind UK's first ABS on the hunt for another investment
The private equity firm behind the UK’s first – and so far only – alternative business structure is beginning the hunt for another investment in the law, Legal Futures can reveal.
Prospect of MDPs "catching the imagination" of large law firms, survey finds
Large law firms are showing increasing interest in forming multi-disciplinary practices with non-lawyer professionals, according to new research. The survey of 126 of the top 250 firms by accountants Smith & Williamson found that a third are interested in joining with a non-legal practice.
Private equity keen on investing in the law, say both new Parabis owner and Irwin Mitchell
Private equity firms are showing “considerable interest” in volume legal practices, the man behind Duke Street’s acquisition of the Parabis Group has said. The head of strategic projects at Irwin Mitchell claimed that most PE firms are considering investing in the law.
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.
