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You can read it here http://www.legalservicesboard.org.uk/news_publications/LSB_News/PDF/2016/20160909LSB_Vision_For_Legislative_Reform.pdf
On the one hand there is little logic in having different regulators providing different regulations to people doing the same thing. There is a lot to be said for the basic premise that the same work should carry the same regulation no matter who does it.
On the other hand if all is merged into one, then the distinctions between barristers, solicitors, legal executives, and wholly unqualified persons doing the same work have to disappear. That might increase access to "lawyers" but it hardly seems the best way to protect the public, yet somehow that seems to be the direction in which everything is drifting.
What have lawyers done to be so mistrusted by regulators?

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