New York ethics opinion clarifies cross-jurisdictional ABS participation
NYSBA Ethics Opinion 1291 says a New York lawyer may hold a financial interest in an ABS rendering legal services where that structure is permitted, and may have certain contractual relationships subject to fee-sharing rules.
BY FRONTIER DESK · MAY 4, 2026 · 1 MIN READ
NYSBA Ethics Opinion 1291 says a New York lawyer may hold a financial interest in an ABS rendering legal services where that structure is permitted, and may have certain contractual relationships subject to fee-sharing rules. It also addresses predominant-effect analysis for lawyers admitted in multiple jurisdictions. Cross-jurisdictional ethics analysis will shape how traditional lawyers interact with ABS and new-law platforms.