The legal services market is changing. On 6 October 2011, we introduced outcomes-focused regulation (OFR). Alternative business structures (ABSs) are enabling lawyers and non-lawyers to share the management and control of businesses providing legal services.
Outcomes-focused regulation focuses on the high-level principles and outcomes that should drive the provision of legal services for consumers. It replaces a detailed and prescriptive rulebook with a targeted, risk-based approach concentrating on the standards of service to consumers. There is greater flexibility for firms in how they achieve outcomes (standards of service) for clients.
Our aim is for a unified approach with the same standards for both traditional law firms and ABSs.
To learn more about outcomes-focused regulation and ABS, read OFR at a glance: Your quick guide to getting started with OFR and the new Handbook, choose from the other options on the left of this screen or see the SRA Handbook.