Final week of key regulation consultations
Scottish solicitors have one week left to give their view on whether the Law Society of Scotland should take forward work to alter the basis on which solicitors are regulated by their professional body.
Consultation closes next Friday, 10 October, on the Society's two consultatin papers, which look respectively at the feasibility of moving towards entity regulation and at principles and outcomes focused regulation.
Entity regulation and chargingmeans that the current model of regulation, including professional practice and discipline, which focuses on individual solicitors, would give way to a more hybrid system, with a greater focus on regulating legal firms or entities, and a corresponding entity charge, leading to a reduced practising certificate fee.
Separately, the paper on principles and outcome focused regulation considers the option of moving towards a different system of professional rules, which is based on principles and outcomes.
The papers, which at this stage simply seek members' views on whether the Society should devote resources to developing specific proposals, are further explained in this Journal feature.
Carole Ford, the non-solicitor convener of the Society’s Regulatory Committee said: “The effective regulation of Scottish solicitors is among the most important work we do at the Law Society and we want all solicitors to have the opportunity to let us know what they think before next week’s closing date.
“Our role is to protect and enhance the reputation and professionalism of Scottish solicitors, maintain high standards and take action when those standards are not met. If we do this then we can ensure Scottish solicitors remain the trusted advisors of choice.
“Against a backdrop of change within the legal profession and the legal services market, it is right to ask a simple question – is the way we have regulated Scottish solicitors for the last 20 years still the right approach for the next 20 years?"
"Maybe the answer is yes, but as an organisation which should always be open to new ideas and willing to learn from the best practice of others, it is right that we take a step back and consider other models and different systems."
She emphasised that “Neither the Law Society Council nor the Regulatory Committee have a fixed view for or against either of these two possible reforms. However, we do think the issues need exploring and deserve being debated.”