218 alternative business structures are in existence
The two-year anniversary of alternative business structures (ABSs) on 3 January was marked by the Solicitors Regulation Authority (SRA) by the announcement that 218 ABSs now exist. They include Co-operative Legal Services, Irwin Mitchell, Lyons Davidson, Russell Jones Walker (now owned by Slater Gordon) and Quindell.
BT created BT Law, insurance giant Admiral became involved in two firms, and AFH Legal was formed by a financial services group.
Local authorities have also contacted the SRA, including Buckinghamshire County Council and the Buckinghamshire and Milton Keynes Fire Authority who reportedly intend to set up an ABS to be known as Buckinghamshire Law + later this year.
Outgoing SRA chief executive Antony Townsend said applicants had shown “highly impressive” innovation.
