Passing a two-day course will enable accountants to start offering probate law services to the public, after the Institute of Chartered Accountants in England and Wales yesterday officially received the power to regulate probate and licence alternative business structures.
The statutory framework of the Council for Licensed Conveyancers (CLC) could be changed in a way that would potentially enable it to regulate all reserved legal activities, under plans outlined by the Legal Services Board (LSB).
Chartered accountants will be able to carry out reserved probate work themselves, without the need to instruct a solicitor, from next month, the Institute of Chartered Accountants in England and Wales (ICAEW) has said.
The Solicitors Regulation Authority (SRA) has decided to press ahead with plans that would allow European law firms that do not conduct reserved work to set up in England and Wales outside of the regulatory regime.
The Lord Chancellor yesterday approved the application by the Institute of Chartered Accountants in England and Wales (ICAEW) to become a regulator of probate services and licensing authority for alternative business structures.
Chartered legal executives are set to have full parity with solicitors after the Legal Services Board gave them the right to practise litigation and advocacy independently.
Competition in the law is to increase further after the Legal Services Board backed accountants to handle reserved probate work and set up alternative business structures, as well as chartered legal executives to set up their own conveyancing and probate practices.
The Legal Services Board has ditched its investigation into whether giving ‘general legal advice’ should become a reserved legal activity – but hinted it may look to remove probate from the existing list.
The Legal Ombudsman (LeO) has today begun a debate over whether its remit should be widened to capture complaints against the 130,000 unregulated providers who deliver legal services. It has also raised the prospect of becoming the complaints body for a wide range of professionals.
Yesterday’s announcement that Lord Chancellor Chris Grayling had rejected the Legal Services Board’s (LSB) recommendation that will-writing become a reserved legal activity was not a total shock. I reported in February that the LSB was nervous given Mr Grayling’s anti-regulation agenda and it was encouraging supporters to lobby the Ministry of Justice (MoJ). If nothing else, those (mainly abroad) who fear that the LSB is too close to the government can rest easy – this is the second significant slap in the face for the LSB after the MoJ in 2011 disregarded its conclusion that the case to ban referral fees was not made out.