CILEx Regulation has today published guidance to support its regulated firms comply with its Transparency Rules, which will come into force on 14 January 2019.
Firms are encouraged to use the Transparency Guidance (Guidance) which has been developed following a consultation on the Transparency Rules (Rules) earlier this year which included the draft Guidance.
The Guidance supports regulated firms as they prepare to publish the information set out in the Rules. Firms will be required to provide information on their websites, or on request if a firm does not have a website, that consumers need when choosing a legal firm. This includes information about service, price and regulation.
The rules mandate the information that firms must publish and firms have the flexibility to implement the requirements to best meet the needs of their business and clients. The guidance provides suggestions on how firms could provide information with optional presentations and templates which will assist firms as they apply the new Rules.
The Guidance also explains the benefits that transparency of information can offer for both businesses and consumers. While the Rules set out the minimum information that firms must provide, CILEx Regulation encourages its firms to provide such additional information that they consider will help consumers understand the legal services they offer.
These requirements follow on from the recommendations of the Competition and Markets Authority to the legal sector. CILEx Regulation has worked with the Solicitors Regulation Authority and the Council for Licenced Conveyancers in developing their Rules and Guidance to provide consistency for consumers comparing legal services providers.
You can find more information about our Transparency Rules and Guidance here.
