High street firm becomes newest ABS as ‘virtual’ practice seeks licence
Gloucestershire high street firm Langley Wellington yesterday became the latest alternative business structure (ABS). Meanwhile, Berlad Graham has become the latest ‘virtual’ law firm to apply to become an ABS.
SRA calls in race relations expert to review its decisions
The Solicitors Regulation Authority has brought in an equality and race relations expert to look at whether there is any racial bias in the decisions it makes after research showed that BME solicitors continue to be disproportionately represented in its regulatory decisions.
General counsel urge ‘self-serve’ model on businesses and weigh up law firm alternatives
In-house lawyers want to encourage non-lawyers within their businesses to take a more ‘self-serve’ approach to creating and managing low-risk and low-value contracts as a way to drive efficiency, new research has found.
Being a solicitor or barrister may soon not be enough: LSB eyes activity based regulation
The Legal Services Board has begun work on moving towards regulating lawyers based on the work they do, rather than on their professional title, Legal Futures can reveal. However, it acknowledged that there will be huge historical and cultural barriers to overcome.
Whatever happened to the ProcureCo?
Remember the ProcureCo? Most have forgotten this corporate bolt-on to chambers, little more than two years after it was launched. We asked the Bar Council what happened to its big idea.
Litigation funders left in limbo over whether ABS status will give them costs protection
Third-party litigation funders thinking of investing in law firms to avoid liability for adverse costs will have to try their luck in front of the court after an important report on contingency fees refused to make a recommendation on whether this should be possible.
Forget the gold rush – it’s the ABS rush, with three more granted licences
The Solicitors Regulation Authority should develop a fast track for legal disciplinary practices seeking approval to operate as alternative business structures, according to the largest of three firms granted their ABS licences yesterday.
Banks warn LSB off seeking to regulate them for will-writing and estate administration
It is hard to see which of the frontline regulators would regulate banks if will-writing and estate administration become reserved legal activities, the British Bankers Association has said. It also said FSA regulation covered what the Legal Services Board was seeking to do.
Leading personal injury lawyer granted ABS licence as he eyes run-up to Jackson
One of the country’s best-known personal injury lawyers has formed the latest alternative business structure as he prepares for the introduction of the Jackson reforms. Initially the move is to bring an accountant into partnership.
Financial services change “will spark massive rise in claims against solicitors”, SRA warned
Scrapping the ban on solicitors referring clients to tied financial advisers would “make them prey to every tied or multi-tied product salesperson in the land”, leading to massive claims on the compensation fund and negligence actions, the SRA has been warned.
