News

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The Cabinet’s reducing regulation committee has given alternative business structures (ABSs) the green light and they will happen on 6 October 2011, justice minister Jonathan Djanogly confirmed today. Mr Djanogly said “no one should be under the illusion that I wish to delay ABS introduction, and all lawyers should be preparing for its introduction”.

The will-writing debate moved towards the end-game today after the Legal Services Consumer Panel launched its investigation into whether the industry should be regulated. However, the Legal Services Board is currently trying to secure £110,000 in funding for the panel to undertake market research.

The Solicitors Regulation Authority and Bar Standards Board are in discussions about creating a joint online consumer network involving the general public, Legal Futures has learned. The move follows pressure from the Legal Services Consumer Panel for the frontline regulators to improve engagement with consumers

In the first of a two-part interview to mark publication of the updated edition of his book, The End of Lawyers?, Professor Richard Susskind tells Legal Futures Editor Neil Rose how the recession and the growth of legal process outsourcing are changing lawyers’ attitudes to change.

The “golden age” is over for barristers as the Bar faces falling income and shrinking numbers, a new report has claimed. However, the Bar still has “an enormous amount in its favour”, according to leading legal consultancy Jomati, which also found evidence of a correlation between the best-performing sets and large numbers of QCs and marketing staff.

Law firms that fail to embrace “legal process management” will quickly lose out to new competitors, such as accounting firms, legal publishers and businesses fuelled by external investment, Professor Richard Susskind has warned. The legal IT and strategy guru has also criticised the approach of many large firms to making cuts during the recession.

This week’s round-up of other relevant news and comment on the web takes in reaction to our story on an aptitude test for LPC students, Professor Richard Susskind’s thoughts ahead of an updated version of his book coming out, fears of big financial pressures on law firms, a survey that shows solicitors think too much of their own reputation, and much more.

Every chambers in England and Wales is to be quizzed on their approach to equality and diversity as part of a new monitoring scheme being rolled out by the Bar Standards Board. The 791 chambers (of which 391 are registered as sole practitioners) are also to face questions on how they handle complaints, their policies on pupillage, and compliance with anti-money laundering rules.

There is a £15bn market in consumer and small business legal services and big brands “have the potential to dominate” it in the future, a senior representative of Royal Bank of Scotland (RBS) said this week.

Some of the biggest brand names in the UK will shortly have access to a legal advice and assistance package for their customers costing around £50 a year, Legal Futures can reveal. CPP Group plc, which provides services via over 200 businesses worldwide – including Tesco, Marks & Spencer, Barclays and HSBC – has developed a product which will give consumers access to everyday consumer advice, a range of legal services, and relevant membership discounts and offers.