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To BSB or not to be?

David Bowden explains why he has no regrets about switching regulators, though some readers may need a box of tissues handy

28 August 2019

My firm became regulated by the Bar Standards Board (BSB) on 27 May 2016 and I have no regrets about being regulated by the BSB rather than the Solicitors Regulation Authority (SRA).

I thought it be would useful to reflect on what I’ve learnt about the authorisation process, insurance and client money to assist other solicitors who are considering BSB regulation – or are starting up a new firm or considering a change of regulator.

The BSB starting regulating entities other than just barristers in January 2015.

It has now been given the power to license bodies who have adopted an alternative business structure (ABS). The latest published data from the BSB shows it has authorised just over 100 entities; it has licensed 10 bodies; and 15 entities have not renewed their authorisation.

Handbooks compared

For me, the SRA handbook is like the vintage television for Andrex toilet roll – ‘strong and very long’

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