EY granted alternative business structure licence

Global accountancy firm EY has been granted an alternative business structure (ABS) licence enabling it to offer legal services in the UK. Its entry into the UK legal market follows that of accountancy giants PwC and KPMG, both of which were granted ABS licences earlier this year. EY’s worldwide legal practice already has more than 1,000 people in 60 jurisdictions. It will provide corporate, commercial, employment and financial services legal advice. UK chair Steve Varley says: “We are offering something new.”