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A property management firm specialising in residential blocks of flats has turned itself into an alternative business structure, in what is understood to be first move of its kind. “At the moment we’re a property management company with a legal capacity. In 10 years’ time, it is likely to be the other way round,” said director Matthew Young.

It is plain that the SRA is keen to be seen as innovative, forward-thinking and ultimately the ‘regulator of choice’ when it comes to MDP ABSs. However, when you look beyond the hype of this development and consider the detail, it becomes clear that the SRA’s methodology in licensing MDPs is fundamentally flawed.

The Legal Ombudsman has introduced a policy for dealing with complaints about organisations which provide non-legal as well as legal services, such as some alternative business structures and, shortly, accountants who offer probate advice.

The Solicitors Regulation Authority has decided to go ahead with cutting the minimum compulsory cover for indemnity insurance from £2m to £500,000, despite strong opposition from the Law Society.

The former head of construction at City giant Norton Rose has turned his legal consultancy into an alternative business structure, but has had difficulty finding a non-lawyer professional partner of similar standing to link up with.