UCL to lead major review of legal services regulation

An independent review into the regulatory framework for legal services in the UK is to be led by Professor Stephen Mayson (UCL Laws). The independent review is intended to explore the issues raised by the Competition and Markets Authority (CMA) in its 2016 market study, which concluded that the legal services sector is not working well for individual consumers and small businesses, and that the current regulatory framework is unsustainable in the long run.  It called for a review of that framework to make it more flexible as well as targeted at areas of highest risk where regulation is most needed. This review of legal services regulation therefore comes at an important time: "In the light of Brexit, 'taking back control' presumes full confidence in our domestic rule of law and legal institutions, as well as maintaining our performance and competitive position in the global economy.  The provision of effective and properly regulated legal services is critical to maintaining the rule of law, and the effective and efficient administration of justice. It is also necessary for sustaining the UK's position and reputation as a world-leading jurisdiction for the governing law of international transactions and for the resolution of disputes," said Professor Mayson. For the review, which is being undertaken independently and with no external funding, Professor Mayson will be working with colleagues at the UCL Centre for Ethics & Laws.