Legal Services Board. Robert Cross. Legal services in England and Wales. Headline numbers. £ 26.8BN $41.7BN. 320,000 WORKERS. 165,000 LAWYERS. 11,500 FIRMS. 190 ABS. Why?. Legal services reform. Office of Fair Trading – Competition in Professions 2001
Clementi Review 2004 - Regulation outdated, inflexible, over complex, lacking accountability and transparency –
No independence in complaint handling
Lack of innovation
Falling public trust in professions
Good article: http://lexislegalintelligence.co.uk/intelligence/blawg/2013/07/gain-your-clients-trust-its-time-to-use-price-tags/Unmet need?
Elements of legal services regulation
Current regulation of legal services
Ministry of Justice
Office of Fair Trading
Legal Services Board
Master of the Faculties
Empowered consumers e.g. Large corporate
Professional bodies/trade associations
Custom & Practice
Other regulators e.g. FSA, ACCA etc.