First trio of ABS licences issued

In a much-anticipated move, the Solicitors Regulation Authority (SRA) has issued licences to the first three alternative business structures (ABS). The three organisations are Co-operative Legal Services, John Welch and Stammers, and Lawbridge Solicitors Ltd.

The SRA began accepting ABS applications in January and there has been much speculation about the process. Antony Townsend, SRA chief executive, said in relation to the three licences: "This represents a milestone we have been working towards for nearly two years. […] Some people may be surprised that there are two high street practices with a handful of staff among the first wave of ABS organisations that we've authorised. But we've always said that ABS offers options for all firms, not just large organisations."

The Co-operative Legal Services announced its intention to apply for ABS status in December 2011. Now fully licensed, it will offer customers a service covering all areas of family law on a fixed fee basis, as well as offering legal aid to some. It has also announced that following a pilot scheme in 2011, it will be offering its legal services through its 300-plus bank branches.

Eddie Ryan, managing director of Co-operative Legal Services, said: "We believe that the presence of The Co-operative's trusted brand and values, together with a combination of first-class products and services, will provide customers with greater accessibility to expert legal advice and better value for money."

The Law Society has congratulated the three firms, with President John Wotton emphasizing that "the full range of Law Society support and services is open" to all new ABS.