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S.28 of the Legal Services Act 2007 requires the SRA to be transparent. This is not transparent on any level because -

1. No reasons are given for allowing some firms to appear to be “above the law”;
2. They do not include conditions on ABS licences which are more wide-ranging than waivers, particularly the exemption for big 4 accountants from the conflicts rules. The reasons for that have never been explained. One can only assume that it was because, under the previous waivers policy, the circumstances had to be exceptional, and in these cases they were not exceptional, merely expedient to satisfy an aim to widen the provision of legal services.