Regulation of Legal Services (Scotland) Bill: business and regulatory impact assessment

Footnotes

1. reimagine-regulation-slcc-priorities-for-a-consultation-on-legal-services-regulation-v100.pdf (scottishlegalcomplaints.org.uk)

2. Independent review of legal services regulation in Scotland: our response - gov.scot (www.gov.scot)

3. There is crossover between the Better Regulation, Consumer, and Human Rights principles.

4. Measures would range from censure (public criticism) to continued scrutiny to financial penalty. In adhering to precedent set by the Legal Services (Scotland) Act 2010, the Lord President's approval would be required for sanctions other than a financial penalty.

5. A regulatory sandbox is a regulatory approach that allows live, time-bound testing of innovations under a regulator's oversight. Novel financial products, technologies, and business models can be tested under a set of rules, supervision requirements, and appropriate safeguards.

6. Alongside the Roberton report, a report on legal services in Scotland was produced by Europe Economics that considers these issues in more detail: www.gov.scot/About/Review/Regulation-Legal-Services.

7. Section 1 of the Legal Services (Scotland) Act 2010.

8. Mayson, Legal services regulation and the public interest

9. National Performance Framework | National Performance Framework

10. The Vision for Justice in Scotland - gov.scot (www.gov.scot)

11. A regulatory sandbox is a regulatory approach that allows live, time-bound testing of innovations under a regulator's oversight. Novel financial products, technologies, and business models can be tested under a set of rules, supervision requirements, and appropriate safeguards.

12. The Law Society's compensation fund is called the Client Protection Fund (though it is called the Guarantee Fund in establishing legislation) and its professional indemnity rules are referred to as the Master Policy.

13. How to handle complaints | SPSO

14. SLCC makes recommendations for improvement to Law Society complaint handling timescales (scottishlegalcomplaints.org.uk)

15. See sections 37 and 38 of the 2010 Act.