David Clementi has unveiled his eagerly-awaited review of the UK legal services market, as expected calling for a new Legal Services Board (LSB) to oversee existing regulators and the introduction of rules to allow solicitors and barristers to join a single partnership.
Headline measures include the establishment of a new regulatory framework underpinned by a LSB with statutory powers to oversee existing regulators such as the Law Society and the Bar Council and the requirement for these bodies to split their regulatory and representative functions.
