The changing world of legal services

Slides:

Advertisements

Similar presentations

Are multi-disciplinary firms a reality? Fergus Payne Lewis Silkin LLP 2 December 2011.

Advertisements

Pentti Mäkinen Central Chamber of Commerce of Finland Benefits of low regulation environment Brussels

Legal Services Act 2007: Reshaping the nature of a profession Frank H Stephen School of Law University of Manchester.

American Bar Association Ethics 20/20 Commission Presentation to YLD Council Las Vegas, May 12, 2011 Professor Paul D. Paton, Reporter.

An Introduction to professional services. The professional services The professional services support businesses of all sizes across the economy, providing.

ABS – Big Bang or Big Whimper? – and how will it affect you? Peter Scott Consulting

Building for the future Peter Scott PETER SCOTT CONSULTING

Legal Services Board Robert Cross. Legal services in England and Wales Headline numbers.

PwC David Devlin 23 April 2002 Auditor Independence in a Global Market Place.

ABSs – the way forward for accountants – or a pipe dream? Peter Scott Consulting

Business Services in Europe: Raising the Game Norman Rose Vice-Chairman High Level Group on Business Services & Chairman European Business Services Round.

Certificate for Introduction to Securities & Investment (Cert.ISI) Unit 1 Lesson 44:  Industry trade and professional bodies  Investment distribution.

4 August 2011 The Future of the Legal Profession – a 2011 perspective Sussex JLD Martin Richardson Professional Development Consultant, Law South.

© Patrick Leblond. 6 May 2014 Economic & Political Implications of CETA Patrick Leblond ECSA-C Business Roundtable ECSA-C Biennial Conference Montreal,

 We are a company providing outsourced accounting and bookkeeping services, legal outsourcing, as well as tax consulting and registration of international.

The Legal Services Act – what does it all mean? Charles Layfield 14 July 2011.

Professor Robin Jarvis Head of SME Affairs Developments with the small audit.

... Future of the LDA Industry Daniel T. King President/CEO Justice Document Services, Inc. Copyright 2007 Justice Document Services, Inc.

Topic 4 Marketing International Marketing and E-Commerce.

Strategy and Regulatory Frameworks

Review of the Transparent Approach to Costing A report by KPMG for HEFCE.

Proposed Tactical Framework Telecomm Regulation Onno W. Purbo

Yale School of Management July 26, Personal Data: Rick Antle Professor of Accounting & Associate Dean,Yale School of Management Authored several.

Mobile Doctors Group plc Alison Crawley Solicitors Regulation Authority June 2011.

Des Hudson Chief Executive Officer The Law Society.

Page 1 | Proprietary and Copyrighted Information The Australian framework Marisa Orbea IESBA Meeting New York April 2015.

Shaping the Future of a New Law Society Review of Professional (non- regulatory) Activities.

Innovation and unregulated legal services International Conference of Legal Regulators, Toronto 28 July 2015 Steve Brooker Head of Research and Development.

August 8, 2014 – Real Estate Liaison Group ABS and the Future of Legal Services.

The SRA and small firms Our Support for Small Firms Robert Loughlin – Executive Director Patrick Reeve – Regulatory Consultant.

1Third Party Assurance Optimization and Control RationalizationCopyright © 2016 Deloitte Development LLC. All rights reserved. Third-Party Assurance (TPA)

We at IGAL provide a range of services to businesses worldwide. IGAL is an international network of legal and accounting experts who.

Good Recruitment Campaign Information for Employers Slides for recruiters to use at client meetings.

Top Class Translation Agency in London

5 . C H A P T E R F I V E Recruitment.

Putting market outcomes on the centre stage The LSBs efforts to evaluate market change Robert Cross PSA 11 March 2016.

Objectives Share our early thinking on regulatory reform

Continuing Competence is coming

Research Strategy Group 13 September 2016

INVESTMENTS: Analysis and Management Second Canadian Edition

Small firms: developing your business Robert Loughlin Rachel Lewis

Second Budget Reform Seminar, Maputo, Mozambique

Research Strategy Group 23 February 2017

The distributive property of multiplication

What Future for Legal Practices?

External influences on marketing

Statistical definitions of informal economy Informal sector

Whatfield School Why Collaborate?.

Looking to the future: next steps in developing our regulation

Simon Law – Society of Licensed Conveyancers

Personal Injury Lawyers -Who would need a personal injury lawyer

Setting Actuarial Standards

Employer’s Toolkit Encouraging Organisations to resource the right way.

Immediate Past President

Vocational orientation in the Service sector

Our reforms - opportunities for you and your firm to work differently

Solicitors Qualifying Examination: why and what

Italian situation in the following areas:

Juliet Oliver, General Counsel

Small Business Taxation A special study for the Mirrlees Review

Tools, models and due diligence for collaboration

Vocational orientation in the Service sector

Consultation on Professional Regulation

A Guide to Digital Marketing in Today's Digital World.

Unlocking the Potential of Artificial Intelligence in English Law

Avvo is Recruiting - Can You Join the Team. Stephen C

LawWorks Clinics November Roundtable

Individual Pension Plans

Marketing of Professional Services

Our new Standards and Regulations: what they mean for your firm

Presentation transcript:

The changing world of legal services Patrick Reeve

Markets outpace regulation LSB estimate 20 - 30% of the turnover of the legal services market in the UK (£29 billion in 2013) is generated by alternative legal services providers r ‘Unregulated’ and regulated providers offer services together e.g. Rocket Law, Legal Zoom Legal Process Outsourcing ‘Unbundled’ services

ABS & MDP Are the accountants coming to get us? ABSs provide a mix of legal and non legal services MDPs provide a range of professional services ‘in house’ Wide definition of ‘legal activity’ in Legal Services Act MDP changes a recognition that the SRA is a legal services regulator! ‘Legal activity’ by non legal professionals under suitable external regulation or ‘subsidiary and necessary’ will not be SRA regulated Are the accountants coming to get us?

‘Separate’ & ‘In Firm’ Why not the other way round? Firms could have separate businesses with other professionals Could employ accountants in house It’s not just about large firms High Street firms well placed to provide multiple services Opportunities to attract investment Demand there from SME clients – LSB research shows higher incidence of legal problems than individuals and more likely to take action but less likely to use lawyers. Cost to economy >100 bn per year

Consultation Proposals Separate Business Rule Remove prohibition on links with separate business providing non reserved legal activity Focus on client protection, referrals and not splitting reserved services Recognised Bodies Restrictions on activities in Administration of Justice Act –list of permitted activities via Practice Framework Rule 13.2 Adding accountancy Professional and specialist support services to business, including: human resources; recruitment; systems support; outsourcing; transcription and translating

Consultation www.sra.org.uk/seperatebusiness Responses Online questionnaire E-mail to consultation@sra.org.uk

Discussion/Questions Your feedback, questions and issues Prompts What does your firm do in house? What links does your firm have with a separate business? How might this change in light of the consultation proposals? What are the implications for COLP/COFA?