CILEx Regulation approved to regulate ACCA Accountants for Probate
CILEx Regulation is delighted to announce that the Legal Services Board has approved its application to provide ongoing legal regulation to ACCA accountants delivering non-contentious probate services.
Following the decision by ACCA earlier this year to withdraw as a legal services regulator, this approval will ensure consumers remain able to access probate services from qualified ACCA practitioners, as well as providing continuity to ACCA members who deliver probate as part of their accountancy practice.
Chief Executive of CILEx Regulation, Professor Janine Griffiths-Baker, said:
“We’re extremely pleased to have worked with the ACCA over the past year on this unique project and that the Legal Services Board has extended our activity to allow us to regulate another profession delivering legal services. We look forward to announcing the details for existing ACCA firms to transfer to CILEX Regulation in the next week and to engaging with new ACCA members who wish to deliver probate services alongside their accountancy provision in the future.”
CILEx Regulation’s connection with ACCA will also offer ACCA members the opportunity to apply to become licensed as Alternative Business Structures (ABS). This latest development is excellent news for consumers as, enabling non-lawyers to own law firms in this way will increase innovation in legal services, offer greater choice to the public and strengthen competition in the market.
Last week, CILEx Regulation announced that it had licensed its first Alternative Business Structure (ABS). Trust Inheritance was formally licensed as TI Law Ltd CILEx Regulation in September 2021 in a move described as “likely to increase further competition in the legal services industry and offer greater choice to consumers.”
ACCA is making a separate application to de-designate as an Approved Regulator under the Legal Services Act.