The Law Society is in talks to abandon its dual roles as watchdog and trade union to the profession in a radical policy shift that would see Chancery Lane accept that it should be split into two separate bodies.
The proposal, a direct response to the radical ongoing review of legal service regulation by Sir David Clementi, highlights acceptance that its controversial dual role has become unsustainable.
The move will see the Law Society's policy-making council tomorrow (22 April) debate a paper backing one of Clementi's proposed models of regulation, dubbed Legal Services Board Plus (B+).
The B+ model would see the creation of an overarching board to monitor regulation by existing bodies. Under the plan, bodies such as the Law Society, which is currently responsible for policing 100,000 solicitors in England and Wales, would split into separate representative and regulatory bodies. The proposal would also split off consumer complaints into an entirely separate agency.
The paper, which has been drawn up by the Law Society's public affairs team under Barbara Calahane, states: "Arguably, model B+ with clear separation of representative and regulatory functions... is the better model for achieving professional 'buy-in' to the system."
However, members of the society's council are likely to demand more information before agreeing to the proposals, which will be subject to a private debate.
The proposed policy u-turn reflects declining support for the society's role from the profession. A survey of 100 commercial lawyers in this week's issue of Legal Week found strong support for B+, a model backed by 31% of respondents.
A further 46% backed an even more radical proposal from Clementi to create a regulator modelled on the FSA.
Clementi, who unveiled his favoured regulatory models in March, is to continue consulting until June, with his final recommendations to be handed to the Government by the end of the year.
One council member told Legal Week: "[Chief executive Janet Paraskeva and president Peter Williamson] have been having lots of lunches with big firms recently and that would help them get buy-in from the City."
The proposal also comes after mounting pressure from Chancery Lane officials to split off the society's regulatory brief. A policy document obtained last year by Legal Week found support for separating consumer redress with some calling for a complete transfer of its regulatory powers.
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