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.
A solicitor who faces the unusual sanction from the Office of Fair Trading of being excluded from the group consumer credit licence held by the Law Society is appealing against the decision.
The Legal Services Board and Legal Services Consumer Panel have thrown their weight behind Friday’s Office of Fair Trading report that urged continuing simplification of the regulatory regime for lawyers, particularly around complaints.
It is hard to see which of the frontline regulators would regulate banks if will-writing and estate administration become reserved legal activities, the British Bankers Association has said. It also said FSA regulation covered what the Legal Services Board was seeking to do.
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.
The Legal Services Board yesterday rejected a bid to allow licensed conveyancers to conduct litigation and advocacy, after more than a year of consideration. It had run into fierce opposition from the Lord Chief Justice and the Law Society.
News round-up: HighStreetLawyer.com expands, firm recruits COLP, will-writer training boost, and much more
Our regular round-up of bits of news you may have missed include new locations for the HighStreetLawyer.com network, a firm recruiting its COLP, firms launching joint ventures and targeted services, professional training for will-writers, money laundering warning, and more.
The government needs to provide further clarity and guidance on how the ban on referral fees will operate in practice, the Solicitors Regulation Authority has warned. Issues such as the definition of a referral fee need to be resolved.
The Law Society is targeting a fresh attack on before-the-event legal expenses insurers by seeking out a test case that aims to loosen their grip on policyholders’ choice of solicitor, it has emerged. The news comes as the Office of Fair Trading called for improvements in the way insurers sell the product.
The Solicitors Regulation Authority is formulating a whistleblowers’ charter and leniency scheme for those who reveal misconduct at law firms and alternative business structures, Legal Futures can report. Co-operation will be accepted as mitigation.