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The Institute of Chartered Accountants in England and Wales has accused banks, insurance companies and others of discriminating against accountants providing probate services, in favour of solicitors. It said various organisations “appeared not to have caught up with the consequences of the Legal Services Act”.

Legal regulators have called on the government to make a series of changes to the Legal Services Act that will make it easier to approve and regulate alternative business structures. The move is part of the first output from joint work being done by all of the legal regulators to identify opportunities for deregulation.

A successor to the Legal Services Act 2007 is urgently required to build on the Act’s successes and to iron out the problems that have emerged since, according to a leading market commentator.

The Legal Services Board is returning to “first principles” as work begins to consider whether the Legal Services Act 2007 should be replaced, its chairman said today.

The outgoing chairman of the Solicitors Regulation Authority has urged the “flat-earthers” at the Law Society to accept that full structural independence for the regulator from Chancery Lane is inevitable.