Tag Results
Cost of practising as a solicitor to rise well above inflation
Friday, 6 July 2012The cost of practising as a solicitor will rise well above inflation this year, mainly to ensure the Law Society has the funds to compensate the victims of fraud, but also to make up the cost of IT project overruns.
Tags: ABS, Alternative business structures, Law Society, Legal Services Board, practising certificate fee, Solicitors Compensation Fund, Solicitors Regulation Authority
Posted in Latest news, Solicitors
LSB gets clean bill of health but idea of ‘super regulator’ remains on the horizon
Thursday, 5 July 2012The Legal Services Board and Office for Legal Complaints were today given a clean bill of health by the government, although it acknowledged that in the long term transforming the LSB into a ‘super regulator’ is an option.
Tags: ABS, Alternative business structures, bar standards board, Legal Ombudsman, Legal Services Act, Legal Services Board, Office for Legal Complaints, Solicitors Regulation Authority
Posted in Latest news, Legal Ombudsman, Legal Services Board
SRA grants waivers to three ABSs and warns applicants over timetable for approval
Tuesday, 3 July 2012Three of the seven ABSs so far approved by the Solicitors Regulation Authority have been granted waivers as part of their applications, it has emerged. It also warned applicants who may have tight timescales for approval that it will not guarantee to meet them.
Tags: ABS, Alternative business structures, Co-op, separate business rule, Solicitors Code of Conduct, Solicitors Regulation Authority
Posted in Alternative business structures, Latest news
The next big thing
Tuesday, 3 July 2012In 17 years as a legal journalist, I have attended a lot of conferences. An awful lot of conferences. And a lot of awful conferences, come to that. So last Friday’s LawTech Camp London was something a bit different – I cannot remember the last time there was such palpable excitement in the air at an event, generated by the sense that technology will introduce genuinely revolutionary change into the delivery of legal services. Some of the speakers raised our eyes to what is on the horizon. Many in the audience were ready to embrace it.
Tags: ABS, Alternative business structures, legal technology
Posted in Blog
Freeserve founder says it will take non-lawyers to bring innovation to “hated” legal market
Monday, 2 July 2012Lawyers are “in denial about what customers hate about law firms” and it will take entrepreneurs from outside the profession to deliver the wholesale change to the business model that is required, the founder of Freeserve claimed last week.
Tags: ABS, Alternative business structures, external investment, personal injury, private equity
Posted in Alternative business structures, Latest news, Market monitor
BSB wins argument over case for entity regulation
Monday, 2 July 2012The Bar Standards Board narrowly defeated a motion proposed by a former Bar chairman that its plans for entity regulation are unhelpful to the justice system, in a debate held in London last week.
Tags: ABS, Alternative business structures, bar standards board, Barristers, entity regulation, Solicitors Regulation Authority
Posted in Alternative business structures, Barristers, Latest news
Here come the accountants – ICAEW launches ABS regulator bid
Friday, 29 June 2012Around 100 firms of accountants are expected to become alternative business structures, the Institute of Chartered Accountants in England and Wales said today as it unveiled its draft application to become a regulator of legal work.
Tags: ABS, Alternative business structures, estate administration, ICAEW, Institute of Chartered Accountants, probate, reserved legal activities
Posted in Alternative business structures, Latest news, Market monitor, Other lawyers
County court advocacy specialists become latest ABS
Thursday, 28 June 2012A law firm that specialises in providing advocacy services in every county court across the country yesterday became the Solicitors Regulation Authority’s eighth alternative business structure.
Tags: ABS, advocacy, Alternative business structures, Solicitors Regulation Authority
Posted in Alternative business structures, Latest news, Market monitor
Growing interest in outside capital among smaller firms but their planning is lacking, survey warns
Wednesday, 27 June 2012A growing number of small and mid-sized law firms are looking at raising external capital, but many need to address failings in basic business planning first, new research has found. It also identified £20m as the turnover point when a law firm turns into a real business.
Tags: ABS, Alternative business structures, external investment, mergers, succession planning
Posted in Alternative business structures, Latest news, Legal Services Act, Market monitor
“Panic or paranoia” driving some firms to ABS
Wednesday, 27 June 2012Some law firms are considering conversion to an alternative business structure (ABS) out of “panic or paranoia” without first getting their own houses in order, experts warned yesterday. Lawyers need first to build sustainable businesses, they said.
Tags: ABS, Alternative business structures, external investment, private equity
Posted in Alternative business structures, Latest news, Market monitor