Sep rep - Society to decide next steps
Solicitors voted against a change to the conflict of interest rule relating to separate representation of borrowers and lenders in conveyancing transactions at our special general meeting on 23 September. During the 90-minute, high quality debate, a range of views were expressed from all quarters. Over 1,500 votes were cast with 847 voting against and 671 voting for a rule change.
The Society's Regulatory Committee will now review all the points raised by members relating to 'sep rep' when they meet on 24 October. The committee will examine whether further work needs to be done on the issue and may consider if there is a need for further guidance relating to conflict of interest specific to acting for a lender and a borrower in a conveyancing transaction.
The Regulatory Committee, set up under the Legal Services (Scotland) Act 2010, oversees all changes to the Society's rules and other regulatory business.
25 September 2013