SRA welcomes ABSs announcement

The Solicitors Regulation Authority (SRA) welcomes the Legal Services Board's announcement today confirming the timetable for licensing Alternative Business Structures (ABSs), with the first ABSs to be licensed from October 2011.

SRA Chair Charles Plant said: "The SRA welcomes the progress towards modernising the legal services market. We are working closely with the Legal Services Board, the Law Society, and others in legal services to deliver a new form of regulation, concentrating on high-quality outcomes for consumers.

"Last month we launched our strategy "Achieving the Right Outcomes". We are committed to bringing in a new, outcomes-focused regulatory framework for all the firms the SRA regulates, both traditional law firms and ABSs, from October 2011. We look forward to discussing this with consumers and the profession over the coming months to ensure success."

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