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Bar Standards Board concerned by low number of entities


By Thomas Patrick O'Brien

02 December 2015 at 09:00 BST


After a decision by the Bar Standards Board to downgrade expectation of income from the new business structures, concerns have arisen regarding the financial viability of regulating barrister 'entities'.

Brian A Jackson

The BSB has reported that its income for the 2015/16 financial year is expected to be 24 per cent less than predicted, with the committee forecasting total income for the year of £1.43 million, against a projected £1.88 million. This is partly the result of a low number of entity applications; only 36 firms have been regulated as an entity so far, much less than the 400 anticipated.

‘Fundamental question or timing issue’

At a BSB meeting, lay member Malcolm Cohen said the shortfall caused concerns about the amount being spent on regulating a ‘tiny’ number of entities and questioned whether it was a timing issue or a more fundamental question about the scheme.  Source: The Law Society Gazette

 
   
 
 
 

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