CILEx Regulation consults on regulating alternative business structures

CILEx Regulation is consulting on whether it should apply to the Legal Services Board for powers to approve and regulate alternative business structures (ABSs).

The consultation seeks views on making the Chartered Institute of Legal Executives (CILEx) a licensing authority in its capacity as an ‘approved regulator’.

The regulatory activity would then be delegated to CILEx Regulation in the same way as for the other powers the regulator holds.

The consultation, which can be viewed here, runs until 29 January 2016.

It asks just two questions:

1. whether respondents agree with an application being made; and

2. for views on how CILEx Regulation will continue to deliver the Regulatory Objectives and Better Regulation Principles with the extension of its regulatory capability.

Currently only entities run by Chartered Legal Executives, CILEx Practitioners or other lawyers can be authorised by CILEx Regulation, but not those with non-lawyer owners or managers.

“Addressing this restriction will expand opportunities for legal businesses whilst ensuring consumers are protected,” CILEx Regulation said.