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The Legal Services Board has urged the profession’s regulators to increase transparency about their costs to address ‘low awareness’ over what the practising certificate fee (PCF) is spent on. The report, Cost of regulation: discussion of evidence from initial phase – and next steps, found that nearly half of solicitors and barristers assessed their PCF and compliance costs as being poor value.
The Legal Services Board has urged the profession’s regulators to increase transparency about their costs to address ‘low awareness’ over what the practising certificate fee (PCF) is spent on. The report, Cost of regulation: discussion of evidence from initial phase – and next steps, found that nearly half of solicitors and barristers assessed their PCF and compliance costs as being poor value.
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