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Law Society sets down red lines marking out limits of its support for ABSs
Wednesday, 3 November 2010The Law Society has begun laying down the red lines beyond which it will not be able to support alternative business structures (ABSs), Legal Futures can reveal. The society’s regulatory affairs board has highlighted a variety of issues that it expects to see addressed if it is to judge the arrangements for ABSs satisfactory, including effective controls on the fitness to own of prospective external owners.
Tags: ABS, Alternative business structures, fitness to own, MDP, multi-disciplinary practice, separate business rule
Posted in Alternative business structures, News, Solicitors
Blog
Five key issues to consider when adopting an AI-based legal tech
As generative AI starts to play a bigger role in our working lives, there are some key issues that your law firm needs to consider when adopting an AI-based legal tech.
Bulk litigation – not always working in consumers interests
For consumers to get the benefit, bulk litigation needs to be done well, and we are increasingly concerned that there are significant problems in some areas of this market.
ABSs, cost and audits – fixing regulation after Axiom Ince
A feature of law firm collapses and frauds has sometimes been the over-concentration of power in outdated and overburdened systems of control.
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