The Law Society congratulates new ABS firms
The Law Society today congratulated the first three practices
licensed as alternative business structures (ABS) by the Solicitors
Regulation Authority (SRA).
Under liberalisations in the Legal Services Act 2007, legal
practices for the first time can be owned and managed by
non-lawyers.
John Wotton, President of the Law Society said:
“I would like to congratulate all three practices on being
the first to be licensed under the new rules. The
Co-operative Group is a well known brand on the high street,
with a substantial profile and a strong reputation for ethical
business. I'd like to welcome Co-operative Legal Services into the
Law Society fold. Lawbridge Solicitors and John Welch and Stammers
are existing law firms who have taken an innovative step in
adopting new ownership structures.
“I look forward to working with all three practices, and
assure them and those whose ABS applications are still being
considered that the full range of Law Society support and services
is open to them.
“The Law Society welcomes this latest development in the
legal services market, introducing as it does new ways of working,
and increasing choice for consumers and corporate clients.
Ownership structure and management are matters for individual
firms, but the Law Society will continue to support all solicitors
and all practices authorised or licensed by the SRA.”
Ends