Tag Results

The government does not intend to extend legal professional privilege to non-lawyers, the Ministry of Justice confirmed yesterday after accountants urged Parliament to level the playing field for multi-disciplinary entities.

The millionaire co-founder of Betfair – the world’s largest betting exchange – is the principal investor behind new alternative business structure Brilliant Law, it has emerged. Brilliant Law said it is the UK’s first law firm set up by non-lawyers, a team “renowned for challenging the markets within which they operate”

Quindell Portfolio and Abbey Protection, AIM-listed companies which both received their alternative business structure licences last month, have reported that their 2012 results are looking good. Quindell said it has had more approaches from prospective acquisition targets, while Abbey is planning an acquisition.

The Solicitors Regulation Authority has been celebrating the first year of its ABS licensing regime. It is not just a numbers game, but with 74 licences granted in that time and 300-odd still inching their way through the application process, it perhaps hasn’t necessarily been quite as glorious a first year as the SRA is making out – another way of looking at it is that there is a large backlog – but it has certainly been interesting given the range of approvals.

More than 450 firms have started the alternative business structure application process over the past year, the Solicitors Regulation Authority has revealed. Having started accepting applications on 3 January 2012, the SRA said that 454 firms have since started the process.