German Regulator brings in Federal Lawyers’ Act (BRAO) reform

The BRAO reform came into effect on August 1st and will alter more laws than just the Federal Lawyers’ Act.

The new BRAO no longer primarily focuses on the individual professional, but assumes that the professional training company is the central organizational form. these central organisations must take our organisational insurance.

This means that the professional practice companies and the members of their management and supervisory bodies will also be subject to the legal professional duties in future. The Bar Associations can reprimand them, and the Lawyers’ Courts can impose measures against them if a manager culpably violates their professional duties.

If they are not already licensed, professional practice societies need a license from the Bar Association, the transition period for which runs until November 1, 2022. Only companies that are not limited and in which shareholders and directors do not need a license – although they can apply for it are exclusively lawyers or professions suitable for partnerships.

Read the full story here.

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