With the recent overhaul of legal services regulation, clients are going to need to be more discerning of the solicitors and firms that they choose to work with. The changes open up avenues of work for solicitors to work freelance, with less stringent regulatory oversight at unregulated entities. This will, in turn, increase competitiveness, but may decrease vital public protections, such as access to the Compensation Fund.
For the first time, solicitors are eligible to work for unregulated firms without the need to ask for a waiver. This will also mean solicitors can work as freelancers in a chambers-style set-up, without having to become a sole practitioner. A separate code of conduct for solicitors and firms will help facilitate the change.