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29 May 2019 / Sheila Kumar
Issue: 7842 / Categories: Opinion , Profession , Regulatory
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Regulation: why prevention is better than cure

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Standing out from the crowd with a different approach to regulation is paying dividends, says CLC chief executive Sheila Kumar

A regulator proposing significant cuts to the regulatory fees they charge doesn’t happen very frequently, so how is it that we at the Council for Licensed Conveyancers (CLC) are currently consulting on such cuts? That we are able to do so is a testament to our success in maintaining high standards of compliance, the strong business performance of our regulated community, and our own budget management.

In all this, we have also to consider the costs of the oversight regulator, the Legal Services Board, and the Legal Ombudsman as well as the Office for Professional Body Supervision (the Anti-Money Laundering agency) that are raised as a levy on the profession collected through the CLC but that we cannot control.

For a second time our strategy made a commitment to reducing regulatory fee rates whenever that is possible and we have already reduced annual practice fee rates by more than

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