The Law Society has urged the Solicitors Regulation Authority (SRA) to retain the specific rule restricting conveyancers from acting for both buyers and sellers.


Responding to a consultation, Chancery Lane said the option of leaving it to the general conflict rules, as suggested by the SRA, would 'create a more uncertain practice environment for solicitors'.



Another option of relying on the general conflict provisions, but with specific safeguards, would be 'more cumbersome and complicated regulation than the current rule'.



The Society said the current rule upheld the principle of not acting for both parties but with flexibility in certain, well-defined, situations. '[It] is clearly expressed and very simple to understand. Getting rid of this rule would make judgements on acting for buyer and seller subjective and regulatory outcomes uncertain.'



It cautioned the SRA against relaxing the rules simply because other industry professionals have a more relaxed regime.



The SRA says a simpler rule may be better understood, and that the current rule may unnecessarily limit solicitors' scope to act.



Catherine Baksi