LORD CHANCELLOR REJECTS APPLICATION BY ICAEW TO BECOME AN APPROVED REGULATOR AND LICENSING AUTHORITY FOR RESERVED LEGAL ACTIVITIES.

The Institute of Chartered Accountant of England and Wales (ICAEW) made an application to be appointed as a Regulator and a Licensing Authority for reserved legal activities and in June this year the Legal Service Board recommended that the application be granted.  However, the Lord Chancellor having considered the matter and had representation form various legal bodies (the Law Society, Notaries Society and local law societies and individual lawyers) has decide not to grant the application.  This is good news for the profession.  It is concerning that the Legal Services Board took the stance it did but encouraging that the Lord Chancellor listened to other professional bodies.  The full text of the Decision Notice can be found here: icaew-reserved-legal-services-application-law-society-response