The City of London Law Society (CLLS) has responded to the Ministry of Justice’s (MoJ) call for evidence over concerns around the complexity of the legal services regulatory landscape with claims that it is dysfunctional and will need to be overhauled. The MoJ led by justice minister Helen Grant kick-started the wholesale review in June this year, in a bid to reduce the regulatory burden on the profession.
In its response yesterday (9 September), the CLLS, which represents approximately 15,000 City lawyers, claimed that the current regulatory framework is ‘not ideal’, fails to regulate all sectors of the solicitors’ profession in an appropriate manner, is unnecessarily complex and expensive and that ‘the total cost of regulation is close to getting out of control.’
