England: Solicitors’ watchdog lambasts profession’s self-regulation

In a response to a Competition and Markets Authority interim report on legal services, the Solicitors Regulation Authority (SRA) stated: “Those who represent a party cannot also regulate it. Measures that regulators could take to open up the market to competition are resisted by their representative arms, who naturally seek to protect the interests of their members.”

It adds: “This situation leads to public confidence and trust in regulated providers being undermined. Separation would free up the professional bodies to become the voice of their members, without the restrictions of also acting as the regulator. It would also allow more flexibility for law firms and solicitors to decide how specific industry bodies (such as APIL or the City of London Law Society) can work alongside professional bodies to best meet their needs.”

The report comes amid a struggle between the SRA and the Law Society over the latter’s position as the profession’s regulator – though this responsibility is delegated to the SRA.

According to the watchdog, public polling indicates that independent regulation of the profession “would boost trust in solicitors”.