Blunt Regulation May Not Help Clients
The Solicitors Regulation Authority (SRA) recently proposed new compulsory rules requiring legal services providers to publish large amounts of information about those services. In response, the Law Society warned that this may mislead clients rather than help them.
More information doesn't necessarily mean better information
said Law Society president Joe Egan. Solicitors help their clients make informed choices by providing information that is relevant to the matter in hand[...] Before introducing more regulation, the SRA should demonstrate that the information it seeks to be published will be useful to clients.
he added.
The latest SRA proposals coincide with its plan to allow solicitors to work out of unregulated entities who - the SRA has said - will not be forced to publish any information about their business, including about the level of client protection they offer.
Joe Egan commented: Clients who do not benefit from regulatory protections like insurance have the greatest need for clear information before they make a purchasing decision. Yet they will not be covered by these new requirements.
Helping clients to make informed choices about legal services is at the heart of every solicitor's practice. Clients have an enormous range of requirements, knowledge, preferences and objectives, even when it comes to relatively straightforward legal transactions like conveyancing. As a profession we will continue to adapt and innovate to meet client needs.
said Mr Egan.