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A first blog from associate editor Dan Bindman: I’ve been writing news stories about changes underway in the legal services market on and off for about a year now, and have been struck by the great variety of approaches to the significance of alternative business structures, both among lawyers and legal commentators. ABSs seem to represent a tsunami of change that will either undermine the ‘trusted professional’ status of lawyers, turning them into salesmen, or a long overdue market liberalisation; a boon to consumers bringing a much needed reality-check to a complacent profession – or something in between.

Alternative business structures (ABSs) could be good news for women, black and minority ethnic, and disabled barristers, the Bar Standards Board has predicted, after approving rules that will allow barristers to become partners and owners of ABSs.

The Solicitors Regulation Authority will not be able to start regulating alternative business structures on 6 October, Legal Futures can reveal. Further, the question of whether prospective non-lawyer investors in ABSs will have to reveal all convictions, even if they are spent, remains unresolved and could stop the SRA licensing ABSs with external ownership.

Solicitors who offer financial services and plan to become alternative business structures could be forced out of the market by plans to plug a gap in consumer protection created by the Legal Services Act, the Financial Services Authority has admitted.

The cost of a solicitor’s practising certificate is set to fall 23% this year – even more than anticipated – we can reveal. Meanwhile, the SRA is to be given the power to ensure that ABSs cannot manipulate their turnover to reduce the fees they have to pay to operate.