'Tesco law' arrives today

ministryofjustice

The new Legal Services Act comes into force today, allowing insurance companies to take a majority stake in law firms.

The government claims the change will offer more choice and better value but some, who have dubbed the change 'Tesco law', claim it will lead to a dumbing down of the profession.

Justice Minister Jonathan Djanogly said: "Our legal services are already rated among the best in the world, used by millions of people around the globe as well as in the UK, and these changes will set them up to move to new heights.

"They will enable firms to set up multi-disciplinary practices and provide opportunities

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FCA adds four more S166s to sector

The Financial Conduct Authority has slapped the general insurance and protection sector with another four skilled person reports as the crackdown continues.

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