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Law society breaches competition rules over financial regulation training for conveyancers

Johnson, Diana

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Abstract

The article considers the impact of a competition law ruling against the Law Society of England and Wales.

The Law Society was found to have breached UK competition law rules in relation to its provision of anti-money laundering and mortgage fraud training courses to law firms. The Law Society made it a condition of membership of its Quality Conveyancing Scheme that all law firm members must only receive this training from the Law Society. A competing provider of legal training courses, Socrates Training Limited (Socrates), successfully made the case that this was an anti-competitive practice.

The Law Society was ordered to pay costs in excess of £230,000 to Socrates.

Citation

Johnson, D. (2017). Law society breaches competition rules over financial regulation training for conveyancers. Financial Regulation International,

Journal Article Type Article
Acceptance Date Oct 1, 2017
Online Publication Date Dec 23, 2017
Publication Date Dec 23, 2017
Deposit Date Feb 22, 2018
Publicly Available Date Mar 8, 2018
Journal Financial Regulation International
Peer Reviewed Not Peer Reviewed
Keywords law society, competition
Public URL https://uwe-repository.worktribe.com/output/902307
Publisher URL https://www.financialregulationintl.com/financial-industry/law-society-breaches-competition-rules-over-financial-regulation-training-for-conveyancers-127927.htm?origin=internalSearch

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