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News
SRA publishes ABS guide
updated on 26 August 2011
The SRA has published a guide to help prospective owners of alternative business structures (ABS) understand what they will need to do in order to earn an operating licence.
The guide includes information about which firms need to be authorised as ABS, essential requirements and details about the application process. Mike Jeacock, SRA executive director of authorisation, said: "The guide provides a useful summary and should provide prospective owners with valuable information to help them prepare their applications. Protecting the public is our first priority, so there will be a robust authorisation process to ensure that only those that meet all the criteria will be awarded a licence."
The SRA was recently disappointed to have its designation as a licensing authority delayed by the Ministry of Justice (see “Delay to regulation of ABS announced”), but estimates that it will begin licensing in early 2012.
