Simmons & Simmons (Ireland) LLP becomes first solicitor-barrister
legal partnership under new regulatory framework
Press release: Tuesday 26 November 2024
The Legal Services Regulatory Authority (LSRA) today welcomes the first legal partnership to be formed in Ireland under the new regulatory framework for this alternative business structure. Simmons & Simmons (Ireland) LLP is the first law firm in Ireland to notify the regulator that it is to begin operating as a solicitor-barrister legal partnership.
Legal partnerships are a new business structure which for the first time allows solicitors to form partnerships with barristers and barristers to form partnerships with other barristers to deliver legal services to consumers. The regulatory framework for legal partnerships consists of a suite of regulations and a new code of practice for practising barristers, all of which commenced on 26 September 2024.
The introduction of legal partnerships broadens the scope of business models available to legal practitioners, allowing for greater flexibility and diversity of services delivered. Prior to the introduction of the legal framework for legal partnerships, only solicitors were permitted to form partnerships with other solicitors. Under the new framework, legal partnerships must notify the LSRA of their intention to deliver legal services.
Commenting on the development, Dr Brian Doherty, CEO of the LSRA said:
“The LSRA is very pleased to welcome Ireland’s first legal partnership within weeks of the enabling regulatory framework being established. Legal partnerships are an innovation in the Irish legal services market which will help modernise the provision of legal services and yield benefits for both legal practitioners and clients alike. Barristers and solicitors practising in partnerships will benefit from the efficiencies that flow from a group practice, such as being able to share backroom costs and client work, as well as risks. Consumers in turn will be offered expanded choices when availing of legal services.”
Rachel Stanton Country Head, Simmons & Simmons (Ireland) LLP, said:
“We believe that this model will set the standard for legal excellence and client service in the international legal arena. We commend Minister McEntee and the LSRA for their efforts in bringing these legal partnerships into existence.”
Ahead of the introduction of legal partnerships, the LSRA commissioned Ipsos B&A to conduct a survey of legal practitioners which found that 6 in 10 were in favour of the new business structure, with 1 in 5 indicating that their law firm would likely become a solicitor-barrister partnership in the next five years.
The survey found that legal practitioners who were in favour of legal partnerships held the view that the new business structure would lead to efficiencies and cost savings by sharing the resources of solicitors and barristers. Specialised services and greater levels of efficiency by combining skills were the top two selected from a list of benefits of becoming a solicitor-barrister legal partnership. Legal practitioners surveyed saw benefits of legal partnerships accruing in many areas of law, with ‘Litigation and Dispute Resolution’ and ‘Environmental Planning’ being the areas that solicitors believe will benefit the most from their introduction.
ENDS
Note to Editors
A legal partnership is a partnership formed under Irish law by written agreement by two or more legal practitioners (solicitors or barristers) for the purpose of providing legal services. At least one partner in a legal partnership must be a practising barrister. Barristers who are on the Roll of Practising Barristers and solicitors who hold valid practising certificates can form a legal partnership.
Legal partnerships are an innovation introduced in section 100 of the Legal Services Regulation Act which provides that a legal practitioner may provide legal services as a partner in, or an employee of, a legal partnership. Section 100, and a number of other sections of the Act relating to legal partnerships, commenced on 25 September 2024.
The operation and management of legal partnerships is governed by the new Legal Services Regulation Act 2015 (Legal Partnerships) Regulations 2024 (S.I. No. 489 of 2024) which commenced on 26 September 2024.
The LSRA maintains a Register of Legal Partnerships which is available here.