American law firms are proactively seeking new opportunities in the UK as the landscape for legal practice structures evolves. While KPMG’s bid for an alternative business structure (ABS) license in Arizona remains under deliberation, major U.S. firms such as Reed Smith, Perkins Coie, and Alston & Bird have already secured ABS licenses in the UK. This strategic move comes as UK regulators have been granting these licenses since 2012, offering flexibility that is not yet available in many parts of the U.S.
For more details on this development, you can read the original article here.