BSB says sorry for slow march towards new business structures


Davies: learning from experience of SRA

The Bar Standards Board (BSB) has apologised for the “inordinately slow” progress in implementing Legal Services Act changes that will enable barristers to practice in novel ways, as it set out a timetable for broadening its reach into entity regulation.

Director Vanessa Davies told delegates at last weekend’s Bar annual conference that the BSB hoped to get approval from the Legal Services Board to regulate entities owned and managed by lawyers by Christmas.

She hoped to open the door for applications in January, with the first entities registered in April.

Vice-chair Patricia Robertson QC said the BSB aimed to work with “early adopters” to pilot the application process ahead of the go-live date to ensure it is as “smooth and efficient” as possible and to give it an understanding of where any “pinch points” might be.

As a “later adopter” of the new regulatory powers, Ms Davies said she hoped the BSB had learned from the experiences of the Solicitors Regulation Authority.

She declined to give an estimate of how long the approval process would take, but pledged to set service standards once the BSB had gained experience of the process.

Turning to alternative business structures, which allow for ownership and investment by non-lawyers, Ms Davies said the BSB aimed to submit its application to the LSB by Christmas. Her “best guess” was that it would take at least six months to get approval.

“We have made our best efforts and with the full co-operation of the LSB to telescope the timescales,” she said, but added: “There is no denying it – it’s been slower than we would like it to be.”

Also voicing frustration at the languor, Ms Robertson said “translating ideas into action has taken longer than we hoped”.

“It has been inordinately slow as matters stand. I can only apologise, but say we are doing are best,” she said.

Tags:




Leave a Comment

By clicking Submit you consent to Legal Futures storing your personal data and confirm you have read our Privacy Policy and section 5 of our Terms & Conditions which deals with user-generated content. All comments will be moderated before posting.

Required fields are marked *
Email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Reports

No larger firm can ignore the demands of innovation – that was the clear message from our most recent roundtable: “The law firm of the future”, sponsored by LexisNexis Enterprise Solutions. It comes in many forms, predominantly but not just technology, and is not simply a case of automating process. Expertise and process are not mutually exclusive.

Blog

11 September 2018

Legal marketing lessons from Ed Sheeran

Anyone starting a new law firm or starting out on their legal career could take several lessons from Ed Sheeran’s approach to promoting himself.

Read More