Overview

The regulatory infrastructure that underpins the legal profession is undergoing unprecedented change. Now that self-regulation is dead, and the new, wholly independent governing bodies are in place, attention is focused on the way in which the new order will go about its day-to-day business.

But this means that the profession will have to bear the brunt of these additional costs, either by self-funding or by paying for additional insurance cover to meet the exposure. The costs of increased regulation are ultimately passed on to clients in increased fees. As such, there must be doubts as to whether this costly regulatory regime and all of its likely implications can be said to be truly in the public interest.

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