Legal Services Regulation Act 2015

In short

This law establishes the Legal Services Regulatory Authority and sets out rules for legal practitioners, including how they are regulated, how complaints against them are handled, and how legal costs are managed. It aims to ensure proper standards and client protection within the legal profession.

What it regulates

• The establishment and functions of the Legal Services Regulatory Authority.
• Inspections and the holding of clients' money by legal practitioners.
• Professional indemnity insurance and limitation of liability for legal practitioners.
• The process for making complaints against legal practitioners and disciplinary hearings.
• The imposition of a levy on professional bodies and certain barristers.
• The operation of legal partnerships, multi-disciplinary practices, and limited liability partnerships.
• Obligations for practising barristers, including maintaining a roll.
• The regulation and adjudication of legal costs.

Who it concerns

• Legal practitioners, including barristers and solicitors.
• Clients of legal practitioners.
• Professional bodies such as the Law Society and Bar Council.

Key points

• Establishes the Legal Services Regulatory Authority to oversee legal services.
• Requires legal practitioners to have professional indemnity insurance.
• Outlines a detailed process for handling complaints against legal practitioners, from preliminary review to disciplinary tribunals.
• Mandates legal practitioners to provide notice of costs and attempt to resolve disputes regarding legal costs.
• Allows for the formation of legal partnerships, multi-disciplinary practices, and limited liability partnerships under specific regulations.