19 January 2018

Bar Standards Board launches consultation on entity authorisation fees

11 September 2014

The Bar Standards Board (BSB) has today issued an open consultation paper outlining its ideas on how much it should charge for authorising entities. Entities are organisations that provide advocacy, litigation, and expert legal advice services and which, in this instance, are owned and managed by barristers and other lawyers. 

Earlier this year the BSB applied to the Legal Services Board to become a regulator of entities and hopes to be able to start authorising entities in January 2015.

The BSB becoming a regulator of entities could enable barristers to set up businesses in new ways and, in doing so, significantly help broaden the public's choice as to how they access legal services. Under its proposals, barristers and other advocacy-focussed lawyers could pool together resources and share the risks of investing in their own business, without having to change regulators.

The BSB is especially interested in hearing from any barristers or chambers who are already thinking about setting up a BSB-regulated entity and would advise them to get in touch via entityregulation@barstandardsboard.org.uk

The consultation paper explains the BSB's approach to authorisation fees and why they are needed to cover the additional resources required for the organisation to regulate entities.

The proposed fee structure for entities includes:

  • An application fee; 
  • An authorisation fee; and 
  • An annual fee. 

The consultation paper outlines the actual proposed fees.

Director of Supervision, Oliver Hanmer, said: "There needs to be a new and distinct fee structure for regulated entities because these costs will not be covered by the barristers' Practising Certificate fee. We have tried to ensure our entity authorisation fees are affordable for all prospective entities."

The level of fee charged will depend on the size of the entity. For example, an individual seeking authorisation for a single person entity will pay just under £600, followed by an annual fee of less than £400.

The full proposals can be read on the BSB's website. The deadline for receipt of submissions is Friday 10 October 2014.

ENDS

About the Bar Standards Board
Our mission is to regulate the Bar so as to promote high standards of practice and safeguard clients and the public interest. For more information about what we do visit: http://bit.ly/1gwui8t.

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