Solicitors Regulation Authority (SRA)

English law firm regulator SRA allows London-based insurance law firm Parabis to convert into an Alternate Business Structure (ABS) after injection of equity from private equity firm Duke Street. Parabis is set to convert from a professional services firm to a business process outsourcer, and will acquire up to five service-providers to the claims management industry, including law firms, by the end of 2012. The acquired firms will value between £10m and £30m [The Lawyer]

The Solicitors Regulations Authority (SRA) has not yet received the completed survey for India to be included in the England & Wales Qualified Lawyers Transfer Scheme (QLTS) but the Bar Council of India (BCI) assured it was an “urgent matter” and would be completed “as soon as possible”.

Indian qualified lawyers will currently not be able to apply to practise law in England and Wales under the new Qualified Lawyers Transfer Scheme (QLTS) since yesterday (1 September), due to an oversight by the Bar Council of India (BCI), said the countries’ Solicitors Regulation Authority (SRA).