Latest news releases

20 June 2018

With the introduction of a new 20 percent cap due on 10 July, law firms have been reminded that when handling claims for mis-sold payment protection insurance (PPI) they must make sure they are acting in their client’s best interests and charging clients appropriately.  

14 June 2018

Law firms must publish information on the prices they charge for certain public-facing services and also display a new badge showing the protections their regulated status gives customers, under new measures we have confirmed.

14 June 2018

We have finalised the package of reforms designed to provide solicitors and law firms with greater flexibility over how they operate, making legal services more accessible to the public.

12 June 2018

We have set the level of contributions to the Compensation Fund for 2018/19. Contributions for solicitors will increase by £50 - from £40 to £90. Firm contributions will increase by £902, from £778 to £1,680.

24 May 2018

Research has shown that since the removal of the minimum trainee salary, trainee numbers have increased and they are more positive about their salaries, even though average trainee salaries have dropped.

9 May 2018

The number of accountants' reports being submitted for review to us has fallen by two-thirds since changes to the rules were introduced.

27 April 2018

We have begun the search for a new Chair of the Board to oversee its work protecting the public and maintaining high professional standards.

24 April 2018

We have set out the details of our work to protect the public and maintain high professional standards in our latest Annual Review.

12 April 2018

We will go ahead with plans to make it easier for law firms to develop new ideas, including a ‘safe space’ for innovation.

5 April 2018

Ahead of the Government's introduction of a PPI fee cap, we have re-iterated our call for law firms to consider how much they charge in this area.

27 March 2018

Responding to the Legal Services Board's approval of the framework for changes to how solicitors are admitted to the profession, employers and education suppliers are being urged to push ahead with their preparations for the introduction of the Solicitors Qualifying Examination(SQE).

23 March 2018

We have today published proposals designed to make sure users of legal services get the appropriate level of protection, and in turn benefit from a more competitive marketplace and increased choice. The proposed changes would see the removal of the current ‘one-size-fits-all’ rules on professional indemnity insurance (PII), meaning firms could take out cover that better reflects the work they do.

20 March 2018

On 26 February 2018, the Central Bank of Ireland (Central Bank) announced that CBL Insurance Europe dac (CBLIE) had been placed into provisional administration.

16 March 2018

While most customers (76%) are satisfied with the legal services they receive when buying or selling a property, there are concerns over the quality and timeliness of information being provided to them during the process.

12 March 2018

We have warned law firms that non-disclosure agreements (NDAs) should not be used to prevent the reporting of professional misconduct.

2 March 2018

Our review of 50 firms has shown that although most law firms are doing what is needed to tackle money laundering, some need to do more.

23 February 2018

Solicitors will not need to comply with the new European Insurance Distribution Directive until later this year, we have confirmed.

14 February 2018

Data published today reveals that while the overall legal sector is increasingly reflective of wider society, challenges remain in achieving true diversity at senior levels in some firms. Based on information from 180,000 people working at 9,000 law firms across England and Wales, our data shows that diversity in the sector continues to improve.

25 January 2018

The majority of solicitors do not advertise prices, despite evidence that customers are willing to shop around, and are more likely to make 'good financial decisions' when prices are more readily available.

22 January 2018

New anti-money-laundering regulations introduced by the Government mean that we require comprehensive information from law firms about people working in certain roles.

11 January 2018

A customer-focussed managing director with wide-ranging retail sector experience has been named as our new lay Board member.