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Quick definitions:
Solicitors Regulation Authority (SRA): The primary regulator for solicitors in England and Wales, covering the widest range of legal practice areas. Its Standards and Regulations set strict rules on conflicts of interest, client care, and professional conduct.
Council for Licensed Conveyancers (CLC): A specialist regulator for property and conveyancing services. The CLC Handbook governs how firms operate, with more flexibility in some areas of conveyancing practice.
Conveyancing Quality Scheme (CQS): An accreditation run by the Law Society, required by many lender panels for SRA-regulated firms. CLC-regulated firms do not need CQS as their Handbook already includes equivalent requirements.
Professional Indemnity Insurance (PII): A mandatory insurance requirement for both regulators, though the terms and costs can differ depending on practice profile.
What are the differences between CLC and SRA regulation?
While there are several differences, both regulators share similar expectations regarding client care and acting in the best interests of clients. Much of the SRA’s Standards and Regulations are also reflected in the CLC Handbook. This ensures a robust and consistent level of service for all clients, regardless of whether they choose an SRA or CLC regulated firm. It also helps ensure no compliance requirements are missed.
The main difference, and often the biggest attraction of the CLC, is the ability to act for both sides in a transaction with fewer restrictions.
- SRA Regulation: There are very few circumstances where a firm can act for both clients in the same transaction. This restriction exists to prevent conflicts of interest, which can arise when trying to act in the best interests of each client. However, the Law Society provides guidance stating that this exception does not apply to property purchases. While clients share a common interest, they also have different goals, as one is buying and the other is selling.
- CLC Regulation: CLC guidance allows firms to act for both parties in a transaction, provided there is informed, written consent and each client is represented by different authorised individuals or parties within the firm. CLC regulated conveyancing departments are typically structured to handle dual representation as a standard practice. This setup can increase client traffic, streamline internal communication, and help progress matters more quickly.
That being said, working for both parties within the same transaction can often lead to some circumstances whereby there is an inequality of influence or disproportionate bargaining power. This would lead to the firm being unable to continue to act for both sides. So this could be a high risk of the firm losing clients and also a financial loss as the CLC Handbook states:
“If a conflict arises which was or should have been foreseen, you do not charge either Client a fee for the work undertaken (other than for disbursements properly incurred).”
The SRA mitigate the risk of this loss by allowing for firms to only act for one party in the transaction.
Comparison table: SRA vs CLC Regulation
| Category | SRA Regulation | CLC Regulation |
|
Market Coverage (As of October 2024)
|
171,697 practising solicitors across 9,174 regulated firms | 1,300 licensed individuals across 230 regulated practices, handling 10–15% of all conveyancing transactions |
|
Conflict of Interest
|
Rarely permits acting for both buyer and seller in the same transaction | Permits acting for both sides with informed written consent and separate representation within the firm |
|
Accreditations (CQS)
|
Many lender panels require CQS accreditation | No CQS needed, requirements embedded in CLC Handbook |
|
Scope of Regulation
|
Broad, covers all practice areas | Property and conveyancing only |
|
Compliance Burden
|
Seen as stricter and more process-heavy | More streamlined for conveyancing specialists |
|
Risks of Conflict Costs
|
Lower, since dual representation is almost never allowed | Higher, as firms risk writing off fees if a conflict arises after acting for both sides |
|
Costs
|
Membership fees and training can be higher | Typically lower, but depends on firm structure |
Do CLC-regulated firms need the Conveyancing Quality Scheme (CQS)?
The CLC includes some elements of the CQS requirements already within their Handbook, for example, the requirement to check the other sides conveyancers. They outline this within their guidance, so the regulators take into account the higher level of service as a standard. As the CLC accounts for this, there is no need for firms to become accredited (with CQS for example) to get onto the lender panels. Each lender panel has their own acceptance terms and therefore the firm should consider this prior to application.
Which regulator is best for conveyancers in 2025?
By this point, it should be clear that there is no single “best” regulator. Both the SRA and CLC are very clear on their expectations of their firms and conduct regular reviews to ensure that they are complying with the regulatory obligations. The real question is which regulator is the better fit for your firm’s size, focus, and growth plans.
When weighing up the options, firms should consider the following factors:
Proportion of work for the firm
- Is conveyancing a large volume of revenue for the firm? If so, what would the risk be now changing to a new regulator?
- Does the firm plan to expand the conveyancing department and would the other regulator allow them more flexibility to do so? This should be documented within the firm’s business plan
Cost
- There are differing costs for membership of each regulator. Firm’s need to consider what the cost outlay would be to switch to a different regulator.
- Factor in additional training for staff to ensure compliance and a solid understanding of what is required of them.
- Review your professional indemnity insurance (PII) to confirm whether cover can be amended or whether a switch would increase premiums.
Risk
- What risks does it pose to the firm? Does it impact the firm wide risk assessment?
- How would it be managed internally and what issues could arise? Does this fall within the firm’s risk appetite?
Research
- Research and review the pros and cons of each regulatory body in relation to the impact this would have on their firm.
- Most importantly, make the risk assessment for yourselves and make an informed decision based on this.
Use these factors to guide your firm’s decision and determine which regulator best aligns with your strategy and risk profile.
Need support choosing or working with your regulator?
Whether you are considering switching from the SRA to the CLC, exploring lender panel requirements, or simply want confidence that your compliance framework is robust, our compliance team is here to help.
At Access Legal, we work with both SRA and CLC regulated firms every day, supporting them with risk assessments, regulatory reviews, and practical guidance tailored to their business model.
Find out more about our compliance consultancy services and get in touch with our experts for tailored advice.
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