Tag Results
SRA mulls scrapping COLP/COFA regime for small firms
Thursday, 4 September 2014The Solicitors Regulation Authority (SRA) is to review whether the requirement for small law firms to have compliance officers is “overkill”, it emerged today.
Tags: ABS, Alternative business structures, COFA, COLP, compliance officer for finance and administration, compliance officer for legal practice, MDP, Solicitors Regulation Authority
Posted in Latest news, Solicitors
Co-operative Legal Services makes £5m loss in first half of 2014
Thursday, 4 September 2014Co-operative Legal Services (CLS) has announced an operating loss of £5.1m in the first half of 2014, a 70% increase on last year. However, there is no sign of the Co-operative Group selling it off.
Tags: ABS, Alternative business structures, Co-operative Legal Services
Posted in Alternative business structures, Latest news, Market monitor
ABSs set to cross the Atlantic
Friday, 15 August 2014The global spread of alternative business structures (ABSs) took a major step forward yesterday after a report by the Canadian Bar Association strongly backed their introduction.
Tags: ABS, Alternative business structures, separate business rule
Posted in Alternative business structures, Latest news, Legal Services Act
Second local authority ABS: we are not a threat to law firms
Wednesday, 13 August 2014HB Public Law, the shared legal service set up by Harrow and Barnet Councils, has been granted an alternative business structure licence by the Solicitors Regulation Authority (SRA).
Tags: ABS, Alternative business structures, local authorities, Solicitors Regulation Authority
Posted in Alternative business structures, Latest news, Legal Services Act, Market monitor
First local authority ABS receives green light
Friday, 8 August 2014The Solicitors Regulation Authority has finally licensed the first local authority alternative business structure (ABS), after approving the collaborative law firm set up by two Buckinghamshire local authority legal teams, Legal Futures can reveal.
Tags: ABS, Alternative business structures, Solicitors Regulation Authority
Posted in Alternative business structures, Latest news, Market monitor
Will Wonga-gate put the morals and ethics back into debt collection?
Friday, 8 August 2014The recent headlines about Wonga, Lloyds and other large institutional organisations using fictitious law firms as a means of ‘upping the ante’ with debtors has really focused minds on the morals and ethics adopted by such organisations.
Tags: ABS, Alternative business structures, bogus law firms, Solicitors Regulation Authority
Posted in Blog
SRA now licensing more than 300 ABSs
Wednesday, 6 August 2014There are now more than 300 alternative business structures (ABS) operating in England and Wales under the supervision of the Solicitors Regulation Authority.
Tags: ABS, Alternative business structures, Solicitors Regulation Authority
Posted in Alternative business structures, Latest news, Legal Services Act
ICAEW wins power to licence probate ABSs
Friday, 25 July 2014The Institute of Chartered Accountants in England and Wales has been given the green light by Parliament to regulate alternative business structures which provide probate services, with dozens of firms already showing an interest in taking advantage.
Tags: ABS, accountants, Alternative business structures, Chartered Institute of Legal Executives, ICAEW, probate
Posted in Alternative business structures, Latest news, Legal Executives, Legal Services Act
Exclusive: will-writers’ trade body launches unique ABS
Tuesday, 22 July 2014The Institute of Professional Willwriters has won approval for a unique alternative business structure that will enable its members and others to access related legal services for their clients, and share in the fees generated.
Tags: ABS, Alternative business structures, conveyancing, Council for Licensed Conveyancers, Institute of Professional Willwriters, probate
Posted in Alternative business structures, Latest news, Market monitor, Other lawyers
LSB attacks SRA’s “over-engineered” approach to MDPs and non-lawyer owners
Monday, 21 July 2014The Legal Services Board has attacked the Solicitors Regulation Authority for having “over-engineered” its approach to regulating multi-disciplinary alternative business structures and to approving non-lawyer owners.
Tags: ABS, Alternative business structures, Legal Services Board, MDP, Multi-disciplinary practices, Solicitors Regulation Authority
Posted in Alternative business structures, Latest news, Legal Services Act, Regulation, Solicitors
Blog
Five key issues to consider when adopting an AI-based legal tech
As generative AI starts to play a bigger role in our working lives, there are some key issues that your law firm needs to consider when adopting an AI-based legal tech.
Bulk litigation – not always working in consumers interests
For consumers to get the benefit, bulk litigation needs to be done well, and we are increasingly concerned that there are significant problems in some areas of this market.
ABSs, cost and audits – fixing regulation after Axiom Ince
A feature of law firm collapses and frauds has sometimes been the over-concentration of power in outdated and overburdened systems of control.
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