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Stuart Russell, You do not understand what you are writing. There is no "common right" practice law.
More importantly the Law Society was established not as a "cosy cartel" for the profession, but so that the public could be protected from rogues.
The reason that we professionals feel aggrieved is that the rules are being meddled with so that we remain bound by a stricter set of regulations that are more expensive to comply with, than are new entrants to the business.
If the SRA would kindly abolish all rules that apply to me, then (although it will be a bad day for the public) I will stop being upset about their "light touch" of others.