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Competition from alternative business structures has emerged as a significant worry to top law firms, a new survey has shown. While the finance directors at the top 100 firms were most concerned about the impact on profitability of downward pressure on fees from clients, 46% said the consequences of deregulation are a high or medium risk to profits.

Alternative business structures should not be introduced until stronger provisions are put in place to stop those convicted of dishonesty from taking a stake in them, a leading Conservative peer has said. Lord Hunt of Wirral called on the government to introduce exceptions to the Rehabilitation of Offenders Act 1974.

The four years since the Legal Services Act have seen “positive changes” for consumers, but many problems persist, the first ever assessment of the reforms has concluded. The consumer impact report, published today by the Legal Services Consumer Panel, says consumers usually get the outcomes they want and most are happy with the service they receive – although it points out that they have little experience against which to judge this.

After all the breathless anticipation, we rather got what we were expecting yesterday on legal aid and the Jackson reforms – full steam ahead into the parliamentary process, with the odd tweak of the former (the tweaks of the latter having already been announced in March). I have written before that alternative business structures (ABSs) are the bigger picture of the Jackson reforms, and surely the same goes for legal aid, albeit for different reasons.

The Legal Services Board is to recommend to the Lord Chancellor that the Law Society – through the Solicitors Regulation Authority – become an alternative business structure licensing authority. However, there has been a disagreement over the separate business rule.