Your SlideShare is downloading. ×
0
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Today's Conveyancer Moving With The Times 2011 - Des Hudson CEO Law Society

566

Published on

Des Hudson CEO of The Law Society speaks at Today's Conveyancer Moving With the Times Conference 7th September 2011

Des Hudson CEO of The Law Society speaks at Today's Conveyancer Moving With the Times Conference 7th September 2011

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
566
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
4
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Desmond Hudson Chief Executive The Law Society
  • 2. Welcome
  • 3. FUTURE SHAPE OF THE MARKET?
    • Who knows?
    • fundamental changes = “Generation Rent”
    • rapidly changing but suppressed market
    • environment
    • hunt for profit.....
  • 4. FUTURE SHAPE OF THE MARKET?
    • referral fees
    • regulation and delivery of policy
    • thematic review and panel management
    • mortgage fraud
    • too many conveyancers....costs outweigh the benefits
    • panel access
  • 5. IMPACT OF LEGAL SERVICES ACT AND ABS
    • not opposed to ABS – there are benefits
    • one factor rapidly changing market
    • reduced solicitor numbers and consolidated practices
    • tough conditions
  • 6. REFERRAL FEES
    • The Law Society will continue to lobby for their prohibition
    • - ethically wrong
    • - distorts the market
    • - unhealthy dependence relationship
    • - impossible to ensure quality
  • 7.
    • increased risk of regulatory arbitrage
    • potential for ‘drive to the bottom’
    • lack of consistency
    • need for level playing field
    • excellent customer service
    REGULATORY ARBITRAGE
  • 8. PII AND ARP
    • indemnity insurance market is tough
    • rapid reform of the ARP
    • SRA implementing our proposals through EPP reforms in 2013
    • effective management of the pool
  • 9. MARKET AND LAW SOCIETY RESPONSE
    • England and Wales not like Australia
    • you will need to think differently
    • we will provide the right support
    • I need to see movement from the profession
    • Conveyancing Quality Scheme
  • 10. HOW ARE LENDERS RESPONDING?
    • FSA and mortgage fraud thematic review
    • tackling mortgage fraud
    • areas for improvement
    • CQS makes a significant contribution
  • 11. HOW ARE LENDERS RESPONDING?
    • conflation of panel management enhances fraud suppression and detection
    • some solicitors contribute to mortgage fraud they are not the only ones
    • differentiate between risk based approach and “blunt instruments”
    • mortgage fraud is not an excuse
  • 12. THE LAW SOCIETY RESPONSE
    • Conveyancing Quality Scheme (CQS)
    • trusted community
    • - high level of credibility
    • - integrity of senior responsible officer
    • - good practice management standards
    • commitment to tackling mortgage fraud
  • 13. ENGAGEMENT WITH MARKET AND LENDERS
    • working with ABI, CML and BSA
    • two way flow between data disclosure
    • 500+ CQS members
    • 700+ branches
    • expect to receive over 1600 applications
  • 14. COMMERCIAL AND PRINCIPLES RESPONSE TO MARKET DEVELOPMENT
    • commercial imperative for us to reassure lenders about the probity of firms
    • track record and commitment to quality
    • CQS additional opportunities
  • 15. LAW SOCIETY OBJECTIVES
    • “ to be the leading representative of the world’s best legal profession”
    • we will support members and drive up standards
    • we will not support our members who are committing or complicit in mortgage fraud
  • 16. CONCLUSIONS
    • reduction in high street provision of conveyancing firms
    • those who remain will need to stand out from the crowd
    • bumpy ride
    • we intend for solicitors to remain the dominant providers of conveyancing services
  • 17. Thank you

×