The Costs Lawyer Standards Board has secured funding from the Regulators’ Pioneer Fund for an innovative new project: How could Costs Lawyers reduce the costs of legal services?

The CLSB, guided by its framework for good consumer outcomes and the Competition and Markets Authority’s findings in its Market Study on legal services, put forward a proposal to BEIS to look at how regulation or legislation might help or hinder the emergence of innovative services provided by advisors specialising in legal costs. We have secured funding for a six month project, starting in September 2021.

The CLSB will carry out research based on the types of services that advisors specialising in costs are providing or might provide in the future. The services of interest are those that help businesses and consumers control legal costs. The research will explore whether, if regulation or legislation were different, Costs Lawyers could bring about downward pressure on the cost of legal services. 

Read more about the project here.

This project has been made possible by a grant from the £3.7 million Regulators’ Pioneer Fund launched by The Department for Business, Energy and Industrial Strategy (BEIS).

The fund enables UK regulators and local authorities to help create a UK regulatory environment that unleashes innovation and makes the UK the best place to start and grow a business.