Question to the Ministry of Justice:

To ask the Secretary of State for Justice, whether his Department is taking steps to prevent the practice of intermediaries selling mismanaged Family Protection Trusts to clients.

The legal profession in England and Wales operates independently of government. The responsibility for regulating the sector sits with the approved regulators, overseen by the Legal Services Board (LSB). Lawyers involved in setting up trusts are subject to regulation by independent regulators.

The Solicitors Regulation Authority (SRA) is responsible for regulating the professional conduct of solicitors, as well as most law firms in England and Wales. The SRA’s role involves protecting clients and the public, which means they have powers to prevent solicitors in breach of their standards and regulations from practising.

Complaints about solicitors’ poor behaviour and conduct can be made via their website at https://www.sra.org.uk/consumers/problems/report-solicitor/. If found in breach of said standards and regulations, the SRA has the power to impose a disciplinary sanction against a firm or individual. Further information on the type of sanctions that can be imposed can be found here: SRA | Sanctions | Solicitors Regulation Authority

According to the Legal Services Act (LSA) 2007, setting up a trust is not a reserved legal activity. HM Treasury may be better placed to respond to any questions about financial intermediaries and their role in setting up trusts.