Mazur, money and modernisation - The regulator's view

In this episode of the Today's Conveyancer Podcast host David Opie is joined by the Council for Licensed Conveyancers' Director of Strategy and External Relations to discuss the regulator's view of the big issues facing conveyancing.

The podcast was initially recorded in the days before the government's home buying and selling reforms consultation with much of the discussion focussing on the risks identified in the CLC's annual Risk Agenda. 

A key topic is the changing nature of client accounts, prompted by the Solicitors Regulation Authority’s consultation. Despite the SRA's confirmation it is not likely to change the operation of client account in the short term, Stephen warns firms not to rely on the current model indefinitely. He confirms the CLC has no immediate plans to mandate alternatives but recognises reduced risk of funds interception in a world where solicitors and conveyancers complete fewer bank transfers; and highlights the current discussions on redirecting interest earned on client accounts toward legal aid funding as in other jurisdictions. 

Stephen also tackles the recent Mazur litigation ruling which redefines the role of unqualified individuals conducting reserved legal activities. Stephen clarifies that the ruling pertains strictly to litigation and does not affect conveyancing. He is clear, although concedes the wording in the legislation isn't(!), under the Legal Services Act 2007, conveyancing and probate may be performed by non-qualified staff under supervision, a model widely used and fully compliant with current legislation.

The conversation covers post-completion, complaints handling, cryptocurrency and AML, auction houses and the future of conveyancing; observing that government legislation is paving the way for initiatives like digital ID verification, conditional contracts, and shared data frameworks; the CLC remains engaged with industry stakeholders to ensure that regulatory infrastructure supports this transformation while safeguarding consumers.

The podcast swerves into a brief segue regarding the home buying and selling consultation and separate material information consultation, a whole podcast in itself. Stephen says the CLC welcomes the move which could bring a level of mandation to the process and start to see pressure from home movers through the adoption of material information and service comparisons outlined in the consultation.

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