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News - Simplified CFAs and new regulations by year's end.

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| July 01, 2004 | COPYRIGHT 2004 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Post Magazine)

Byline: Ana Paula Nacif.

Conditional fee agreements should be simplified and a new set of regulations introduced by the end of the year, according to proposals by the Department for Constitutional Affairs.

Under the proposals, published this week in consultation paper Making simple CFAs a reality, the reform of 'no win, no fee' arrangements would see the current CFA regulations being replaced with a single set of regulations both for CFAs and collective CFAs by the end of 2004.

It would also make the burden of regulation lighter by removing some of the detailed client care requirements from the current regulations and transferring the regulatory aspect of legal services to solicitors' professional rule of conduct. Costs information guide and new model agreements to be used in the new simplified system would be revised by the Law ...

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