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By mid-January next year, a raft of law firms will find themselves under a new regulatory regime. The Financial Services Authority (FSA) is to extend its regulatory arm beyond its current scope, in the light of European Union (EU) legislation which has prompted a general re-think of how professional services firms are regulated. High street firms across the country may now find themselves under the FSA spotlight, while major firms that may also be affected include insurance heavyweights Irwin Mitchell, Russell Jones & Walker, Leigh Day & Co, Thompsons and Underwoods.

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