When the Solicitors Regulatory Authority approved the first 3 Alternative Business Structures on 26th, 27th and 28th March, it was hoped that this was a sign that the log-jam of applications which had built up would start to ease, and that the application process would speed up.
It seems that this was a forlorn hope. Some 3 weeks after the initial approvals, not a single further approval has been forthcoming, which is a matter of continuing frustration for a number of applicants who are finding the process cumbersome, opaque and slow.
Whilst the SRA clearly has a duty to ensure that it discharges its obligations diligently, there is a growing feeling that the system is unnecessarily complex and time-consuming to negotiate.
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