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It will be easier for barristers to set up legal businesses after the Bar Standards Board agreed to make the criteria for approving new entities more flexible.
Earlier this summer, the BSB agreed to recommendations that several compulsory rules now be made discretionary, so as to make the authorisation regime more agile. The rules would have obliged entities to:
These criteria will still be included in a policy statement, to be published with the new Handbook – due to go live in January 2014.
The BSB will apply to the LSB to be a Licensing Authority once the ‘non-ABS’ entity regulation regime (as described above) has been approved. Barristers can already set up ABSs, but they currently need to be regulated by another approved regulator such as the SRA.
For further information, please see: http://bit.ly/14sk8ve
Earlier this summer, the BSB agreed to recommendations that several compulsory rules now be made discretionary, so as to make the authorisation regime more agile. The rules would have obliged entities to:
These criteria will still be included in a policy statement, to be published with the new Handbook – due to go live in January 2014.
The BSB will apply to the LSB to be a Licensing Authority once the ‘non-ABS’ entity regulation regime (as described above) has been approved. Barristers can already set up ABSs, but they currently need to be regulated by another approved regulator such as the SRA.
For further information, please see: http://bit.ly/14sk8ve
It will be easier for barristers to set up legal businesses after the Bar Standards Board agreed to make the criteria for approving new entities more flexible.
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