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.’

Full story

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).’

Full story

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.’

Full story

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.

Full story

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.’

Full story

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.’
Full story

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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Slow off the blocks? BSB regulates fewer firms than expected as ABS launch date slips further – Legal Futures

‘The Bar Standards Board (BSB), which predicted at one point last year that it would authorise 400 firms in 2015, has approved only 32 in its first four months as an entity regulator, it has emerged.’

Full story

Legal Futures, 4th August 2015

Source: www.legalfutures.co.uk

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LSB Chief Executive speaks at Westminster Legal Policy Forum event on innovation in legal services – Legal Services Board

‘The Legal Services Board Chief Executive Richard Moriarty spoke at the Westminster Legal Policy Forum event: Innovation in legal services market – growth, skills and new business models.’

Full speech

Legal Services Board, 9th July 2015

Source: www.legalservicesboard.org.uk

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The innovation game – Legal Futures

Posted July 9th, 2015 in alternative business structures, law firms, legal services, news by sally

‘Innovation is a word much bandied around in the law – on this website more than most – without always a crystal clear idea of what it means.’

Full story

Legal Futures, 7th July 2015

Source: www.legalfutures.co.uk

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Legal professionals are becoming more innovative in running their businesses but more is needed – Legal Services Board

‘Findings from the largest ever study of innovation in the legal sector, commissioned by the Solicitors Regulation Authority (SRA) and the Legal Services Board (LSB), suggest that legal professionals ,including solicitors and barristers, are becoming more innovative in the organisation and management of their business.’
Full story

Legal Services Board, 7th July 2015

Source: www.legalservicesboard.org.uk

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BSB seeks power to shut down chambers – Legal Futures

‘The Bar Standards Board (BSB) has proposed that it should be given, for the first time, the power to intervene in barristers’ practices and chambers.’

Full story

Legal Futures, 15th May 2015

Source: www.legalfutures.co.uk

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High Court rejects challenge to closure of ABS from solicitor who “lost ethical compass” – Legal Futures

‘The High Court has rejected a challenge to the closure of an alternative business structure by the Solicitors Regulation Authority (SRA). It was the first time an ABS closure decision has been tested in the High Court.’

Full story

Legal Futures, 13th May 2015

Source: www.legalfutures.co.uk

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Single-person ‘firms’ dominate first tranche of barrister entities – Legal Futures

Posted April 27th, 2015 in alternative business structures, barristers, indemnities, insurance, news by sally

‘All but one of the entities authorised by the Bar Standards Board since the beginning of this month consist of a single barrister, with the other made up of two barristers, it has emerged.’

Full story

Legal Futures, 27th April 2015

Source: www.legalfutures.co.uk

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Unnecessary ABS approval rules to be scrapped in latest regulation bonfire – Legal Futures

‘The rule which requires the Solicitors Regulation Authority (SRA) to approve the individuals who own companies that in turn own alternative business structures (ABSs) is set to be scrapped, it announced yesterday.’

Full story

Legal Futures, 17th April 2015

Source: www.legalfutures.co.uk

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New legal services businesses now being authorised by regulator – Bar Standards Board

Posted April 10th, 2015 in alternative business structures, barristers, press releases by tracey

‘The barristers’ regulator, the Bar Standards Board (BSB), has today approved 15 new businesses as it begins authorising BSB-regulated entities – companies or partnerships that provide advocacy, litigation, and expert legal advice services.’

Full press release

Bar Standards Board, 8th April 2015

Source: www.barstandardsboard.org.uk

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