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The Legal Services Board is pushing ahead with preparations to regulate alternative business structures itself because of fears that the Law Society council will next month block the Solicitors Regulation Authority’s plan to become an ABS regulator, Legal Futures has learned.

The miners’ compensation scandal shows that a maximum fine of £150m for misconduct or non-compliance by alternative business structures is too low, the Solicitors Regulation Authority has warned. With new entrants set to enter the legal market after 6 October, it was “perhaps dangerous to rely too heavily upon turnover figures in the current market to assess appropriate fining powers”.

The Bar Standards Board has fulfilled its side of the deal struck with the Legal Services Board over its lay/professional composition, with four new members taking office this month. There is now an equal number of lay and professional members ahead of a lay majority being in place after further changes next year. Later this year the Solicitors Regulation Authority will also move to parity before a lay majority is appointed for 2013.

Senior managers at the Legal Services Board (LSB) earn between £80,000 and £120,000, it has emerged in data released under the government’s transparency agenda. The LSB is funded by a levy on the eight legal professions it oversees, and the top-paid senior managers under chief executive Chris Kenny are general counsel Bruce Macmillian, paid between £115,000 and £120,000, and strategy director, Crispin Passmore (£110,000 and £115,000).

Barristers going into competition with solicitors to offer litigation services could reduce costs and make services “more efficient for consumers through packaged delivery”, the voice of legal consumers has said. The Legal Services Consumer Panel also backed the Bar Standards Board as the sole regulator of advocacy services.