On 18 March 2015, the Legal Services Board (LSB) published the outcome of its survey of over 1,000 legal practitioners on the cost of legal regulation. Costs Lawyers provided the second highest response rate per professional population. We are pleased to advise the outcome evidences Costs Lawyers are of the view the CLSB is providing the right level of regulation at the right price.
There are seven legal regulators, the CLSB was one of only two whose professions considered the fees of their regulatory body reasonable. Those regulated by the Solicitors Regulatory Authority, Bar Standards Board and Intellectual Property Regulation Board considered their regulation poor value for money.
Further, 78% of Costs Lawyers indicated they want to keep all areas of regulation brought in by the CLSB compared to 16% at the CLC at the other end of the scale.
The profession has now spoken for itself.