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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.

Lawyers around the world are watching to see how alternative business structures (ABS) work, giving UK law firms a possible competitive advantage if they can meet “unprecedented” client demand for value, Professor Richard Susskind told the Legal Futures Conference. He also said it was “unimaginable” that investors and entrepreneurs would ignore the opportunities presented by legal market.

As the interest of law firms in external investment goes up, “the interest of funders seems to be firmly in decline”, a new alternative business structures consultancy has found. A survey of 51 of the top 200 law firms by ABS Advisory Partners found that 12% thought it “very likely” or “likely” that they will seek direct external investment.

Solicitors, law firms and would-be alternative business structures today get first sight of the new SRA Handbook, the 563-page guide to practising and running a legal practice. The Handbook – delivered on schedule and exactly six months before it is due to come into force – introduces the profession to outcomes-focused regulation.