Frequently Asked Questions

Overview

On 24 July 2003, the Constitutional Affairs Secretary, Lord Falconer, launched a wide-ranging independent review of the regulation of the legal services market aimed at promoting competition and innovation and improving services for the customer.

The review will be led by Prudential plc chairman and former Deputy Governor of the Bank of England, Mr David Clementi. His role is to examine the independent legal sector and the regulatory system. Mr Clementi is expected to complete his review by the end of 2004.

The report responds to the 2002 consultation paper In the Public Interest? which examined opening up the conveyancing and probate markets, multi-disciplinary practices, extending legal professional privilege and the Queen's Counsel system.

What are the terms of reference for David Clementi's Review?

The terms of reference for the review are:

• To consider what regulatory framework would best promote competition, innovation and the public and consumer interest in an efficient, effective and independent legal sector.
• To recommend a framework which will be independent in representing the public and consumer interest, comprehensive, accountable, consistent, flexible, transparent, and no more restrictive or burdensome than is clearly justified.
• To make recommendations by 31 December 2004.

What areas will David Clementi consider in his Review?

The five key areas under review are:

1. institutional structures and the maze of 23 different regulators,
2. self regulation and professionalism within the legal services industry,
3. complaints against lawyers,
4. unregulated providers and regulatory gaps, and
5. new business structures, including employed lawyers to those other than their employers, multi-disciplinary practices and similar disciplinary practices.

What is the timetable for the Review?

David Clementi published a consultation document on 8 March 2004, with a view to publishing his final report by 31 December 2023

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