“The question is, how will ABS impact on you as some people have some very exciting plans …. Where is the competition?”
Charles Plant, Chair of the SRA 17th October 2011

This was the thoughtful challenge set by Charles Plant near the close of his address to the Sussex Law Society conference. He mentioned two headline examples of how ABS is guiding large businesses, confirming that the Co-op will almost certainly be a certified ABS in January 2012 and that Irwin Mitchell was close to securing £50m of external investment. It would be very easy to assume that this has nothing to do with the average high street firm until these businesses open up an office next to yours.  Read the full story

“You cannot override market forces …. We cannot secure your future for you, you must secure your own future.”
John Wotton, Law Society President, 17th October 2011

With these words, John Wotton made it very clear that the profession needs to start taking responsibility for itself in the business arena. Speaking at the Sussex Law Society Annual Conference, he said that many solicitors are very worried about the fundamental changes they are now facing and that he doesn’t have a crystal ball. “It would be wrong to say that everything will be fine”. He confirmed that Read the full story

A new system of regulation for the legal profession has been introduced. In a move away from a rules based approach, outcomes focused regulation (OFR) is the Solicitors Regulation Authority’s (SRA) new approach.

The SRA will be implementing OFR from 6 October 2011. It claims to be outcomes focused and risk based, and aims to provide clients with services that are tailored to their particular needs. OFR means that firms and practitioners will have greater flexibility in establishing how they can achieve the best outcomes for their clients. The SRA has published a handbook which underpins the regulation of solicitors, law firms and alternative business structures (ABS). It brings together all of the SRA’s regulatory requirements into a single structure and underpins the regulation of solicitors, law firms and ABS. It sets out ethical standards that the SRA expects of law firms and practitioners, and the outcomes that it expects practitioners to achieve for their clients. Read the full story

Lord Hunt of Wirral was commissioned by the Law Society in October 2008 to advise on what was needed to establish best modern practice in the regulation of solicitors. His terms of reference were: Read the full story

The Solicitors Regulation Authority (SRA) regulates more than 100,000 solicitors in England and Wales. “Our purpose is to protect the public by ensuring that solicitors meet high standards, and by acting when risks are identified. Read the full story