CLC Reaction to LSB’s Report on the Cost of Regulation

CLC Reaction to LSB’s Report on the Cost of Regulation

Reacting to the publication today of the Cost of Regulation report by the Legal Services Board Sheila Kumar, Chief Executive of the Council for Licensed Conveyancers said: “I am very pleased that the LSB’s work on costs of regulation has found that the profession’s views of both the fees and compliance costs of the CLC regime are viewed very favourably to other, comparable regulators. This chimes with the findings of an independent survey to be published in full soon, in which 77% of CLC-regulated lawyers say the CLC provides value for money and three-quarters said it ‘supports innovation and growth’.

“The CLC is far from complacent, and in March this year we were able to announce a 20% cut in regulatory fee rates for firms. This new business model is based on improved staffing arrangements, the benefits of new IT infrastructure, smaller premises and changes to our processes for delivering our regulatory objectives.

“The CLC is focused on the value for money of our work as a specialist regulator of property lawyers, protecting consumers and supporting innovation and growth in the legal services market. This includes using our review of the CLC Handbook to streamline regulation further, based on feedback from the profession and other stakeholders.”

The Council for Licensed Conveyancers

A history of innovation in specialisation

The Council for Licensed Conveyancers was established in 1985 to foster competition and innovation in the conveyancing market. 30 years on we are still helping legal businesses thrive by finding new ways to meet changing customer expectation.

Our approach is to support firms to achieve compliance and to accommodate different ways of working where we can. Our experience as a specialist regulator of conveyancing and probate allows us to tailor our regulation to those areas of property law.

The Legal Services Board’s recent report on regulatory standards gave the CLC the highest overall rating of any frontline regulator and an independent report by IFF (a research company) found that three quarters of licensed conveyancers believe that regulation by the CLC provides value for money and supports innovation and growth in their business.

Contact: Stephen Ward

Tel: 0207 250 8465

Email: [email protected]

Council for Licensed Conveyancers
CAN Mezzanine
49 – 51 East Road
N1 6AH

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