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The outsourcing arm of FTSE 250 construction company Carillion could become an alternative business structure (ABS) as it looks to grow its advice services team beyond in-house and legal aid work, it has emerged.

Alternative business structures and external capital will intensify competition but do nothing to stimulate demand in the conveyancing market, a leading Law Society representative has said. Meanwhile, lenders have warned that they expect CQS to be more stringent.

A Court of Appeal judge has issued a warning over the risk of external investment in law firms leading to “small, imperceptible steps” that could put business interests ahead of professional ethics.

Investment by Dragon’s Den star James Caan has given the law firm Knights privileged access to clients and helped boost fee income by 20%, according to its managing partner. Meanwhile Parabis chief executive Tim Oliver has warned about the entry of the big accountants.

Law Society chief executive Des Hudson has responded to calls for all advocates – including solicitors – to be regulated by the Bar Standards Board by saying: “Are they having a laugh?” And SAHCA chief says QASA and ABSs give solicitor-advocates a “golden opportunity” to compete with barristers.