Singapore MinLaw studying regulatory need for alternative legal service providers

alternative legal service providers

The Singapore Ministry of Law (MinLaw) has been studying the possibility of regulating alternative legal service providers (ALSPs), which include major accounting firms that offer legal solutions.

Chief Justice Sundaresh Menon said at the opening of the legal year on Monday that regulating legal services of the future is one of the major themes that have emerged from the dialogues he has had with over 160 legal practitioners and stakeholders last year.

"The challenge in this area arises, in particular, from the emergence of alternative legal service providers, or 'ALSPs', as new entrants into the market… Their emergence will result in a legal marketplace that is more crowded, competitive, diverse and commercialised," Mr. Menon said.

ALSPs include small legal technology startups and Big Four accounting firms that offer legal services in their efforts to be one-stop shops for businesses. [read more]

Source: Tay Peck Gek - THE BUSINESS TIMES