Sharpening the "blunt stick" of regulation

Today's Wills & Probate Podcast

In this edition of the Today's Wills and Probate podcast host David Opie speaks with Professional Standards Board member Nick Ash about plans to beef up their oversight of Society of Will Writers members.
Ahead of the Society of Will Writers (SWW) Conference in Lincoln on Monday 9th October Nick provides insight into the proposed changes to the Code of Practice Oversight and Governance and Complaints Procedures which are due to be implemented in 2024.
Despite what might be considered an enviable record, having expelled just 2 members in the last 2 years Ash describes the current powers of the PSB as bit like a “blunt stick.” Simply expelling members currently “doesn’t help the consumer… doesn’t help the member get better, (and) doesn’t help the society" he says.
The new powers will enable the PSB to widen the scope of their complaints investigations and will include mis-selling and misleading advertising, and individuals bringing the profession into disrepute going forward. A 3 tier disciplinary structure will also be introduced with individuals and firms named and shamed where there is failure to engage with remedial action.
The discussion also explores the recent launch of the Competition and Markets Authority investigation into will writing and pre-paid probate, which raises concerns around misleading advertising, unfair contract terms and pressure selling and coercion.
The Today's Wills and Probate podcast is available on your preferred podcast provider, and at www.todayswillsandprobate.co.uk. Subscribe today to hear all the latest news and views across the wills and probate sector.