Iain Miller will be speaking at ARK Group’s Disruptive Innovation in Legal Services event on 19 April 2018. Iain talks about the regulatory changes, challenges and opportunities ahead.
In early 2019 the SRA will bring into force its new regulations for solicitors and law firms. These changes will bring about a significant change in the market for legal services. It will allow existing law firms to be more flexible about how they provide legal services. It will enable unregulated providers to market the advice of solicitors employed by them in providing certain types of legal services. These changes will blur the line between regulated law firms and unregulated providers. Some organisations can, for the first time, choose to be both under the same brand.
The new regulatory regime will raise opportunities for law firms who will need to understand how best to structure their business to take advantage of the new regulations. It will also create more competition for existing law firms from unregulated legal businesses. All of those involved in legal services need to start now in understanding how these changes will affect them so they can stay ahead of the competition.