ICAEW is spearheading a further push into the legal services market and has applied to become an approved regulator and licensing authority for five additional reserved legal activities, following the institute’s appointment as an approved regulator and licensing authority for probate in 2014
The Legal Services Act 2007 opened up the provision of reserved legal services to competition and practitioners, other than lawyers, can apply to provide reserved legal services. ICAEW already regulates 225 providers of probate services.
Now, following a three month consultation with members, the institute is now applying to the Legal Services Board (LSB) to become a regulator of the conduct of litigation, rights of audience and reserved instrument activities. In these three, its remit would be restricted to the area of taxation.
The other two reserved areas are notarial services and the administration of oaths.
Duncan Wiggetts, ICAEW executive director of professional standards, said: ‘As an experienced regulator I am confident ICAEW will ensure its members and firms provide excellent reserved legal services to the public. The application follows the successful authorisation and licensing for probate by ICAEW and promotes the Act’s objectives of widening consumer choice in the legal services market and of protecting the consumer through effective regulation.’
A decision on ICAEW’s application is expected within 12 months.
