Provide your views on our proposed approach to regulate Alternative Business Structures (ABS).
We have developed rules that set out our approach to licensing, which are in our licensing rules consultation. We have also looked at our other regulatory requirements and updated them to include licensed bodies. This includes the Code of Conduct, Accounts Rules, Professional Indemnity Insurance Rules and the Compensation Fund Rules. There are some amendments to our rules for regulating entities.
We have issued consultations on each set of rules and welcome your views. The consultations close on 18 March 2016. Please respond by then as your views are important to us and help shape our regulatory approach.
Currently we only authorise entities run by Chartered Legal Executives, CILEx Practitioners or other lawyers. Regulating ABS allows us to regulate entities with non-lawyers; expanding opportunities for legal businesses while protecting consumers.
The consultation document is available here.