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The recent spate of Anglo-Scottish mergers will not be the last as Scotland gears up for its own alternative business structure regime going live, it has been predicted. There has been a “surge in M&A activity in the Scottish legal market”.

The impending ban on referral fees in personal injury could result in a “steep increase” in the number of financial failures amongst small law firms – but may not actually discourage spurious claims – the Solicitors Regulation Authority has warned.

Insurance companies could buy law firms and use them as conduits to sell their products to consumers if the Solicitors Regulation Authority changes the rules on referring clients to financial advisers, it has been warned.

The Legal Services Board has told the Solicitors Regulation Authority that it needs to complete its review of in-house practice as soon as possible because the current regulatory arrangements are not sustainable.

Professional services – a sector worth £35bn to the UK alone – is being transformed, and not just by economic forces. Legal market deregulation in the shape of Alternative Business Structures is disrupting the traditional model of legal services, setting the scene for a whole new era of innovation.