Regulatory tweaks for legal industry on the horizon

[SINGAPORE] Singapore plans to introduce an alternative business structure for the legal industry, which would allow non-legal professionals to own a part of a law firm.

The proposed change comes as part of a suite of recommendations by a review committee announced yesterday. The assessment of Singapore's existing regulation framework came in the face of recent liberalisation, which has drawn in more foreign-qualified lawyers and international interest.

The Ministry of Law said it has accepted these recommendations, which will likely make up legislative amendments to the Legal Profession Act. The proposed changes should be implemented by next year.