“Weak competition” and legal culture behind lack of external investment through ABS, says LSB report – Legal Futures

‘The low level of external investment in law firms since alternative business structures (ABSs) were allowed more than five years ago “may be a symptom of weak competition in the market overall”, a Legal Services Board (LSB) report has suggested.’

Full Story

Legal Futures, 15th June 2017

Source: www.legalfutures.co.uk

Innovation happening, but no strong need to change the traditional chambers model, say respondents to BSB survey – Bar Standards Board

‘The Bar Standards Board (BSB) has today published its report into the provision of legal services by barristers. The report contains the results of an online survey conducted in September and October 2016 with barristers about the future delivery of legal services.’

Full Story

Bar Standards Board, 30th May 2017

Source: www.barstandardsboard.org.uk

ABS targets continued expansion as ‘second cities’ strategy and non-legal services see turnover rocket – Legal Futures

Posted May 2nd, 2017 in alternative business structures, law firms, news by sally

‘Fast-growing alternative business structure Knights Professional Services is on the look-out for its next acquisition and ‘second city’ location – as well as more non-legal services – after unveiling an increase of more than 60% in turnover over the past year to £33.5m.’

Full story

Legal Futures, 2nd May 2017

Source: www.legalfutures.co.uk

Shared legal service terminated after requirements of partner councils change – Local Government Lawyer

‘The shared legal service between Spelthorne Borough Council and Reigate & Banstead Borough Council came to an end last month after three years, it has emerged.’

Full story

Local Government Lawyer, 11th April 2017

Source: www.localgovernmentlawyer.co.uk

MoJ set to press ahead with regulatory independence – Legal Futures

Posted October 28th, 2016 in alternative business structures, legal ombudsman, legal profession, news by sally

‘The Ministry of Justice (MoJ) has no intention of dropping its plans to separate the legal regulators from their representative bodies, it said yesterday as it unveiled reviews of how the Legal Services Board (LSB) and Legal Ombudsman (LeO) are operating.’

Full story

Legal Futures, 28th October 2016

Source: www.legalfutures.co.uk

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

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.’

Full story

Legal Futures, 17th August 2016

Source: www.legalfutures.co.uk

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.’

Full story

Law Society’s Gazette, 12th August 2016

Source: www.lawgazette.co.uk

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

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.’

Full story

Legal Futures, 7th July 2016

Source: www.legalfutures.co.uk

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.’

Full story

Legal Futures, 20th June 2016

Source: www.legalfutures.co.uk

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.’

Full story

Law Society’s Gazette, 16th June 2016

Source: www.lawgazette.co.uk

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

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.’

Full story

Legal Futures, 12th May 2016

Source: www.legalfutures.co.uk

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

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

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

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

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

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