The Solicitors Regulation Authority (SRA) has published a guide to setting up alternative businesses structures (ABSs).
ABSs will allow non-lawyers to own UK law firms for the first time.
The SRA guide lays out the steps a potential ABS owner should follow to get an operating licence.
It includes information about which firms need to be authorised as ABSs and details about the application process.
SRA executive director of authorisation Mike Jeacock said: "Protecting the public is our first priority, so there will be a robust authorisation process to ensure that only those that meet all the criteria will be awarded a licence."
The Ministry of Justice expects to designate the SRA as a licensing authority for ABSs by the end of the year. The original October deadline was pushed back because of delays in the parliamentary process, an SRA spokesman said.
The SRA hopes to begin licensing ABSs in early 2012.
Websites
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
No comments yet