ABS first

The first ABS (alternative business structure) will be named by the end of the week, the Solicitors Regulation Authority (SRA) has said. So far, 125 firms have started applications, and 33 have completed them. The applications process is in two stages.

Antony Townsend, SRA chief executive, says the arrival of ABS “should have a major impact on consumers’ experiences of legal services; it should stimulate competition and encourage innovation”.