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The Solicitors Regulation Authority is to remain on report over its performance in licensing alternative business structures until it outlines how it will stop making “disproportionate” requests for information from applicants, it has emerged.

McMillan Williams, which has 20 offices in London and the south of England, has become the first high street law firm to take external investment after securing a £5m private equity deal.

An entrepreneur has revealed plans to combine a claims management company, a consumer website and the clinical negligence department of a top 100 firm to form a market-dominating alternative business structure.

A debt collection business has become an alternative business structure (ABS) and can now offer an end-to-end service that enables it to collect, litigate and enforce clients’ debt.

DBS Law, a fast-growing general civil practice based in Birmingham, has become an alternative business structure as it looks to build on its dramatic growth over recent years.