The Legal Services Consumer Panel has warned of “information overload” as legal regulators struggle to come to terms with the demands of the Competition and Markets Authority for transparency on prices and complaints.
A lawyer-matching platform has answered the growing clamour for charging transparency with a price index based on its database of 15,000 quotes, broken down into detailed categories of commercial work. The move should give clients an idea of average fees at market rates.
The Competition and Markets Authority (CMA) has announced a study of the legal services sector for consumers and small businesses so as to examine “long-standing concerns” about affordability and standards of service. The CMA said concerns had also been raised about the “complexity of the current regulatory framework”.
The Bar Standards Board has rejected suggestions that its application to become an alternative business structure licensing authority will unnecessarily restrict the extent of non-lawyer ownership and so have a detrimental effect on competition.
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.