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In the end, the Bar Standards Board probably didn’t have much of a choice but to become a regulator of advocacy focused alternative business structures. Without it, barristers and chambers that wanted to practise in new ways would have been forced to go off and find a new regulator – most likely the Solicitors Regulation Authority.

The Bar Standards Board is to regulate advocacy focused alternative business structures and allow barristers to conduct litigation, its board decided yesterday. However, it has placed significant restrictions on the range of entities it is prepared to regulate.

More than three-quarters of law firms have changed their plans to reflect the coming of alternative business structures, but firms seeking to attract investors will have to develop credible growth strategies. Neil Kinsella, managing partner of Russell Jones & Walker, said his firm had already begun to draw up a list of potential law firm acquisitions.

A new website called “We buy any files” is keen to acquire business from practices looking to shed personal injury work ahead of alternative business structures and the Jackson reforms. Meanwhile, a survey of consumers has highlighted dissatisfaction with the PI claims system, and leading legal expenses insurer DAS has hit back at yesterday’s report on BTE insurance.

The Legal Services Board has an “absolute right” to intervene whenever it believes frontline regulators are dragging their heels, such as acting to improve diversity, the Legal Services Board chairman, David Edmonds, told the Legal Futures conference.