Consultation on Regulatory Fees May 2016

On 23 March 2016 when it published its Annual Financial Statements 2015, the CLC announced that it was considering a 20% cut in its regulatory fee rates for the licence year starting 1 November 2016[1]. The announcement was reported in the Law Society Gazette[2], Legal Futures[3] and Todays Conveyancer[4]. The CLC published its Consultation Paper on 12 May 2016 which was reported in Legal Futures[5]. The Consultation Period ended on 24 June 2016. The Consultation Paper was promoted on the CLC website and publicised in three mailshots sent to the profession.

The CLC received two responses, both agreeing the proposal to reduce the regulatory fee rates by 20%: one from a CLC practice and the other from the Society of Licensed Conveyancers (SLC). The SLC suggested that the CLC should provide additional information to explain the current regulatory fee structure. The CLC has responded to the SLC proposing a meeting where these suggestions can be explored further.

At its meeting at the end of July 2016, the CLC Council will determine the fees rates for the licence year starting 1 November 2016 taking into account the consultation paper, the responses to the consultation paper and a draft budget for the CLC in 2017.

[1] http://www.conveyancer.org.uk/Latest-news/2016/Mar/CLC-targets-20-fee-rate-cut-for-firms.aspx

[2] http://www.lawgazette.co.uk/practice/conveyancers-regulator-to-cut-fees/5054404.fullarticle

[3] http://www.legalfutures.co.uk/latest-news/news-brief-unbundling-appeal-rejected-clc-cuts-fees

[4] http://www.todaysconveyancer.co.uk/news/clc-cut-regulatory-fees-20-november/

[5] http://www.legalfutures.co.uk/associate-news/clc-consults-lower-regulatory-fee-rates