LSB warns Bar regulator that it has big hurdles to jump to regulate ABSs
The Bar Standards Board will be unable to regulate alternative business structures effectively until it learns more about users of barristers’ services and undergoes “significant cultural change”, according to the Legal Services Board.
Wealth management company receives ABS green light
An alternative business structure (ABS) that aims to offer fixed-price legal services to the sports and media star clients of a wealth management group, is poised to open its doors. BlackStar Legal is associated with BlackStar Group.
Newest ABS urges small firms to consider succession planning benefits
Small firms should consider the benefits of alternative business structure (ABS) status as a way to handle succession planning, the senior partner of one of the latest licensees has said. “ABS means we can end our practising certificates and still own the firm,” he explained.
Cost of barrister regulation soars
The Bar Standards Board is already projecting a £161,000 overspend on its 2013-14 budget, which itself is £1.2m (or 30%) higher than the previous 12 months, Legal Futures can report. But it is also expecting QASA to boost income.
LawStore targets businesses with mix of legal and non-legal services
LawStore – the consumer-facing brand developed by regional law firm and alternative business structure MTA Solicitors – will next week launch into the business market, while further high street shops are also planned, Legal Futures can reveal.
BSB decision to stop former chief constable self-funding pupillage upheld
A barristers’ chambers which offered an unfunded pupillage to a former police chief constable has lost its appeal against a Bar Standards Board decision that the move ran foul of equality rules designed to stop ‘rich kids’ from self-funding.
Exclusive: law firms push out CMCs as referral fee ban reshapes PI search market
The abolition of referral fees is “dramatically reshaping” the online personal injury (PI) market, with legal brands pushing out claims management companies, according to major new research seen exclusively by Legal Futures.
Don’t panic about new entrants but you have to act, warns solicitor who founded retail chain
A staid profession is a dead profession, a solicitor turned high street entrepreneur has warned, telling lawyers that they need to change the way they do things. However, Sahar Hashemi – the one-time City solicitor who went on to found Coffee Republic – said law firms should not panic.
SRA under fire for policing of referral fee ban and insurer/law firm ABSs
The Solicitors Regulation Authority came under fire this week for the way it is enforcing the referral fee ban, with its director of policy and strategy unable to tell solicitors how many investigations it has started since the ban came into force seven weeks ago.
Forget ABSs – AI, touchable holographs and telepresence robots “will transform the law”
Artificial intelligence will be in widespread use by tomorrow’s law businesses, serving clients who will be mobile users of “digital personal assistants” that use holographic displays and respond to the thoughts of their owners, according to futurologists.
