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The Kings Court Trust Blog

Keeping you up-to-date with Wills, probate and estate administration industry news

ICAEW Becomes ABS Licensing Authority

on Aug 7, 2014 9:00:00 AM By | Kings Court Trust | ICAEW Industry News Licensing Authority ABS
The Institute of Chartered Accountants in England and Wales (ICAEW) will soon step into the role of license issuer for alternative business structures (ABSs) that provide probate services, Legal Future reports. The UK Parliament approved the order allowing ICAEW to assume the role in late July.
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SRA Seeks to Ease Regulatory Pressure on Multi-Disciplinary ABSs

Earlier this month, the Solicitors Regulation Authority (SRA) proposed taking non-reserved legal activities within multi-disciplinary alternative business structures (ABSs) out of duplicate regulation. The move is chiefly aimed at alleviating regulatory pressure on multi-disciplinary practices (MDPs) given their relatively low level of interest in becoming an ABS and encouraging more MDPs to enter the market, the authority said on its website.
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More Councils Seek ABS Status to Stay Viable

A large number of councils across England and Wales are looking to adopt the alternative business structure (ABS) model for their legal departments in a bid to maintain their effectiveness as spending cuts and outsourcing threaten their viability.
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Number of ABSs Surpasses 300

More than 300 firms have now obtained a licence to become an alternative business structure (ABS).
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ICAEW & CILEx Approved to Regulate Probate Work

The Institute of Chartered Accountants in England and Wales (ICAEW) and the Chartered Institute for Legal Executives (CILEx) will now have powers to license alternative business structures (ABSs) and regulate probate work after their applications to become approved regulators were accepted by Lord Chancellor Chris Grayling last week.
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ABSs Starting to Make Waves

Research from the Legal Services Board (LSB) points to the strong potential of alternative business structures (ABSs) to make a huge difference in the legal services market. According to the LSB, ABSs are more productive, better at dealing with complaints about service and more innovative than traditional law firms.
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Kings Court Trust Secures Investment for Growth of Partner Network

Since becoming the first Alternative Business Structure (ABS) licensed for probate by the CLC almost a year ago, Kings Court Trust (KCT) has continued to work closely with all of our Will writing and IFA partners.
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What's Happening in the Legal Services Market?

Over the next two years the UK legal services market is likely to exhibit modest growth levels, fuelled mainly by larger sector players and the increasing presence of new legal models, says YouGov in its Legal Services 2013 report.
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Scotland Delays ABS Introduction Until End of 2013

The Scottish government is taking more time to review the application of the Law Society of Scotland to become an approved regulator and as such it will delay the introduction of alternative business structures (ABSs) at least until the end of the year.
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