Consultation Opens on Changes to the CLC’s Compensation Fund

20 December, 2024

The CLC has a well-established discretionary Compensation Fund (‘the Fund’) of last resort, funded by the regulated community, from which we may make grants or other payments for the purpose of relieving or mitigating losses arising from certain wrongs committed by CLC Practices.

Today, we are launching a consultation on draft new rules for the Compensation Fund.

• We have revised the Rules in order to:
•  improve clarity for consumers, specifically in relation to eligibility, losses covered by the Fund and the process;
• ensure that the Fund remains true to its core purpose, and
• meet the Regulatory Objectives and embed the principles of Better Regulation (transparency, consistency, proportionality, targeting, accountability.

We are seeking the widest possible input on the proposed new rules from the consumers and their representatives, past applicants to the Fund, the regulated community and anyone with an interest in the regulation of conveyancing and probate services for the protection of consumers.

You can find out more here.