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@17:16.
All solicitors will still have to have practising certificates. SRA fees will not be affected as far as personal practising certificates are concerned. There may be some loss of fees from some regulated entities that don't do any reserved work and may elect on working as unregulated instead.
I suppose that the number of regulated firms will not go gown drastically. Most solicitors undertake reserved legal work so will need authorised firms.
The benefit of course of setting up a separate business that does not offer reserved work and cut all the red tape and costs that regulation requires.

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