Regulation of lawyers across the developed world is under pressure from technological and other disruptions, and national competition authorities should seize the opportunity to guarantee market access for new entrants, the OECD has advised.
The Competition and Markets Authority is considering whether to launch a review of the legal services market, it has emerged. It was a report in 2001 by its predecessor, the Office of Fair Trading, which began the process that led to the Legal Services Act 2007.
Law firms and third-party funders will not be allowed to initiate group actions for breach of competition law – and such cases will be exempt from the move towards allowing solicitors to work on a contingency fee basis, under proposals published this week by the government.
Lord Falconer, who as Lord Chancellor steered the Legal Services Act through Parliament, last week warned about the challenges alternative business structures provide for “the preservation of legal ethics”.
North Yorkshire firm Coles turned to technology to make its services more accessible and affordable, explains Epoq, a Legal Futures Associate.