The big talk and opinion in legal circles at the moment is about the impact that the introduction of ABSs is going to have on the legal profession. I'm afraid to say I find this incredibly reactive and I do hope that there are plenty of firms out there who are quietly and strategically considering how they can best take advantage of the changes which the LSA 2007 will allow, including the regulatory changes in the form of OFR (Outcome Focused Regulation).
The SRA consultation paper, "Achieving the right outcomes" sets out that one of the benefits of OFR will be flexibility and innovation and states that this new approach "presents challenges for firms in determining for themselves the approach to delivering the right outcomes for clients". So how will your firm rise to this challenge?
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