Bar takes next step towards ABS licensing – Law Society’s Gazette

Posted September 7th, 2016 in alternative business structures, barristers, licensing, news by sally

‘The Bar Standards Board has announced a new step towards becoming a licensing body for alternative business structures by beginning the process of picking intervention agents. The regulator’s long-standing ambition to handle ABSs was approved by the Legal Services Board in March this year but the body is still awaiting formal designation by the lord chancellor.’

Full story

Law Society’s Gazette, 6th September 2016

Source: www.lawgazette.co.uk

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ABSs may “dominate in high-volume legal services”, study says – Legal Futures

Posted August 17th, 2016 in alternative business structures, legal services, news, partnerships by sally

‘The traditional law firm partnership structure is still dominant in the profession but the arrival of alternative business structures (ABS) has disrupted the status quo and may eventually become the norm in high-volume legal services, according to research.’

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Legal Futures, 17th August 2016

Source: www.legalfutures.co.uk

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Nothing inherently riskier about ABS, says super regulator – Law Society’s Gazette

‘Restrictions on alternative business structure can be lifted now they have shown to be no greater risk than traditional law firms, the Legal Services Board has said.’

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Law Society’s Gazette, 12th August 2016

Source: www.lawgazette.co.uk

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Bar ‘entities’ flop – so fees under review – Law Society’s Gazette

Posted August 4th, 2016 in alternative business structures, barristers, fees, news, reports by Mark L

‘The bar’s regulator is reviewing its fees after grossly overestimating the profession’s appetite for new business models. Income has fallen well short of expectations, the Bar Standards Board admits in its annual report, after entity applications turned out to be just a fraction of the hundreds anticipated when it began licensing the new model in April last year.’

Full story

Law Society’s Gazette, 4th August 2016

Source: www.lawgazette.co.uk

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Government lays out plans to encourage more ABSs to enter market – Legal Futures

‘The government is today laying out plans to remove restrictions on alternative business structures (ABSs) on the basis that they have proven no more risky than traditional law firms.’

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Legal Futures, 7th July 2016

Source: www.legalfutures.co.uk

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Neuberger urges debate over ethical implications of artificial intelligence – Legal Futures

‘The president of the Supreme Court last week called for a debate on the ethical implications of artificial intelligence (AI) and for “greater prominence” for ethics in legal training.’

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Legal Futures, 20th June 2016

Source: www.legalfutures.co.uk

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Neuberger warns of conflict risks posed by ABSs and conditional fees – Law Society’s Gazette

Posted June 17th, 2016 in alternative business structures, conflict of interest, fees, news by tracey

‘Supreme Court president Lord Neuberger has warned that alternative business structures and conditional fee agreements are two ‘concerning’ developments which could pose a threat to lawyers’ ethical duties.’

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Law Society’s Gazette, 16th June 2016

Source: www.lawgazette.co.uk

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Bar regulator clears penultimate hurdle to licensing ABSs – Law Society’s Gazette

Posted May 20th, 2016 in alternative business structures, barristers, news by tracey

‘The bar regulator is expected to begin licensing non-lawyer-owned legal firms later this year, subject to the lord chancellor’s rubber stamp.’

Full story

Law Society’s Gazette, 19th May 2016

Source: www.lawgazette.co.uk

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Lawyer-led ABSs are leading the way, says head of Jackson Canter as it doubles in size – Legal Futures

Posted May 12th, 2016 in alternative business structures, law firms, news, solicitors by sally

‘Lawyer-led alternative business structures are leaving their rivals behind, the head of north-west firm Jackson Canter has said.’

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Legal Futures, 12th May 2016

Source: www.legalfutures.co.uk

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Report: ABSs punch well above their weight – Legal Futures

‘Alternative business structures (ABS) make up just 4% of all solicitors’ firms but contributed 11% of the profession’s turnover, research has revealed.’

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Legal Futures, 27th April 2016

Source: www.legalfutures.co.uk

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Bar regulator receives approval to license Alternative Business Structures – Bar Standards Board

Posted March 31st, 2016 in alternative business structures, barristers, licensing, news by sally

‘The Bar Standards Board’s (BSB) application to become a licensing authority for alternative business structures (ABS) has been approved by the Legal Services Board (LSB).’

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Bar Standards Board, 30th March 2016

Source: www.barstandardsboard.org.uk

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Bar Standards Board set to become ABS licensing authority – Legal Futures

Posted March 31st, 2016 in alternative business structures, barristers, licensing, news by sally

‘The Bar Standards Board (BSB) has received the green light to license alternative business structures (ABSs).’

Full story

Legal Futures, 30th March 2016

Source: www.legalfutures.co.uk

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Barristers at risk of being squeezed out of market, regulator warns – Legal Futures

‘Barristers are at risk of being “squeezed out of the market by a declining case load, a surfeit of barristers and increasing competition from both other regulated legal professionals as well as unregulated service providers”, the Bar Standards Board (BSB) has warned.’

Full story

Legal Futures, 8th February 2016

Source: www.legalfutures.co.uk

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BSB reveals low expectations of ABS take-up – Legal Futures

Posted December 15th, 2015 in alternative business structures, barristers, consultations, news by sally

‘The Bar Standard Board (BSB) expects to regulate just 20 alternative business structures (ABS) each year in the first three years after it becomes a licensing authority.’

Full story

Legal Futures, 15th December 2015

Source: www.legalfutures.co.uk

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Bar regulator announces consultations on the cost of regulatory activities, including ABSs – Bar Standards Board

Posted December 11th, 2015 in alternative business structures, barristers, consultations, news by tracey

‘The fees and charges for a number of regulatory activities and Alternative Business Structures (ABSs) are the focus of two separate consultations the regulator has launched today.’

Full press release

Bar Standards Board, 10th December 2015

Source: www.barstandardsboard.org.uk

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Gove poised to back call for less overbearing regulatory regime for ABSs – Legal Futures

‘Lord Chancellor Michael Gove indicated yesterday that he would support legislative changes to make it easier to approve and regulate alternative business structures (ABSs) while the scope of the wider review of the Legal Services Act 2007 is worked out.’

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Legal Futures, 19th November 2015

Source: www.legalfutures.co.uk

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Disciplinary tribunals halves budget for so far non-existent ABS appeals – Legal Futures

‘The Solicitors Disciplinary Tribunal (SDT) has halved its budget for appeals from alternative business structures (ABSs), as it has yet to receive one since the Solicitors Regulation Authority (SRA) started licensing them in 2012.

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Legal Futures, 9th November 2015

Source: www.legalfutures.co.uk

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Bar 2015: barristers lukewarm on innovative business models – Law Society’s Gazette

Posted October 27th, 2015 in alternative business structures, barristers, legal services, news by sally

‘Barristers appear reluctant to embrace new ways of doing business following the liberalisation of the legal services market.’

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Law Society’s Gazette, 26th October 2015

Source: www.lawgazette.co.uk

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Report on ABS benefits says England and Wales experience “inconclusive” – Legal Futures

Posted September 29th, 2015 in alternative business structures, news, reports by sally

‘A report on alternative business structures (ABS) has issued a cautious verdict on majority non-lawyer ownership, judging the model to be as yet unproven, based on the experience so far in England and Wales and Australia.’
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Legal Futures, 28th September 2015

Source: www.legalfutures.co.uk

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Exclusive: Barristers’ chambers sets up ABS to attract overseas clients – Legal Futures

‘A barristers’ chambers is set to launch an alternative business structure (ABS) to help it obtain international work, because it will give the appearance of a solicitors’ firm to foreign clients who do not understand direct access.’

Full story

Legal Futures, 24th September 2015

Source: www.legalfutures.co.uk

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