Fines could hit £150m

Individual lawyers could face fines of up to £50m under new proposals from the Legal Services Board (LSB).

The maximum fine for alternative business structures (ABS) would be set at £150m. The proposals are set out in the LSB’s December consultation paper, Setting the maximum financial penalty for ABS licensing, which closes on 24 January.

Issue: 7447 / Categories: Legal News

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Fines could hit £150m

MOVERS & SHAKERS

Signature Litigation—Catherine Naylor

Stevens & Bolton—Alexa Payet

Morgan Lewis—Paul Feldberg