Market monitor
The first “teaching law firm”? Law school applies for ABS licence
Nottingham Law School, part of Nottingham Trent University, has applied to the Solicitors Regulation Authority for an alternative business structure licence that would allow it to create a “teaching law firm”.
RSA teams up with Parabis to launch alternative business structure
Insurance giant RSA, formerly Royal and Sun Alliance, has entered the legal services market by obtaining a licence for an alternative business structure in partnership with national firm Parabis. RSA Law will go live next month.
Exclusive: The Family Law Café opens for business
An online family law service that uses barristers to triage a client’s requirements and connect them with the experts needed to assist – whether they are barristers, solicitors, mediators, financial advisers, arbitrators, collaborative lawyers or therapists – has gone live this week.
Innovation in providing legal services will be “paramount”, survey finds
A large majority of law firms think that, over the next five years, “innovation in providing legal services will be paramount” as they reach the limit of cost-cutting measures, a survey has found.
Large law firms “most worried” about threats from ABSs and accountancy firms
Large law firms are most worried about the threat from alternative business structures (ABSs) and accountancy firms, but interest in becoming ABSs themselves is waning fast, new research has found.
Latest ABSs: Mishcon de Reya, Lake District firm and probate advisers take the plunge
London-based Mishcon de Reya, a rural firm in the Lake District, and a firm that currently carries out no reserved legal work at all are among the latest businesses to obtain alternative business structure licences.
NewLaw set to rack up seven joint venture ABSs as PwC review of Quindell is delayed
NewLaw Solicitors is eyeing up another three alternative business structure joint ventures, its publicly listed owner revealed yesterday. NewLaw – itself only the fourth ABS licensed by the Solicitors Regulation Authority – already has four joint venture ABSs
The ultimate one-stop shop? Lawyer offers divorce advice, anti-ageing cream and sex therapy
An international lawyer is bringing new meaning to the idea of a multi-disciplinary practice after launching a business in London that combines legal advice for DIY divorce clients with anti-ageing serums and sex therapy.
Quindell shares jump on positive news of Slater & Gordon deal
Alternative business structure Quindell plc indicated today that progress is being made on Slater & Gordon’s acquisition of its legal arm. The AIM-listed company’s shares jumped by 40% in early trading as a result.
First ABS attached to a barristers’ chambers launched in Liverpool
Liverpool-based 7 Harrington Street Chambers has launched what is believed to be the first alternative business structure attached to a barristers’ chambers. It opened for business last week, with three barristers and 7HS practice director as its directors.
Blog
Accountability has to live within governance, not with one person
The assumption has long been that a COLP or COFA is personally exposed to the consequences of anti-money laundering breaches.
The SRA’s client money reforms: good intentions, questionable execution
On the face of it, the SRA’s plans to tighten protections around client money sounds sensible. The detail, as ever, tells a more complicated story.
Recruitment, retention and reward in the legal accounts world
Understanding the legal finance market is important – not just for those actively involved in it day-to-day but also for leaders within law firms.
