time is of the essence

Posted by | Filed under ABSs, clc, sra | Feb 8, 2011 | Tags: , , , , , | No Comments

Linda Lee, the Law Society’s president, announced last week that that there is chance that the Law Society may vote to block the SRA from their application to become an ABS licensing authority at their council meeting next month.

This should not prevent the roll out of ABSs as the LSB remain committed to the October “go live” date, however, this does nothing to assist the organisations that are currently planning to become early adopted ABSs.

And whilst the Law Society’s uncomfortableness with the impact of external investment and management is perhaps a valid argument for solicitors to stand separate from other legal service providers, it might have been helpful for them to communicate this stance more effectively to their members at an earlier date.

So what are the options for ABS wannabes?  Well it has to be said, as there is scant information available at present as to what an LSB ABS licence will require, that the Council for Licensed Conveyancers becomes a more and more attractive proposition for the new world legal service providers.  They remain committed to October go live, and once they add litigation and advocacy into their fold (which they would be well advised to prioritise) then they may start to look like the only viable option.

We continue to watch this space….

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