The simple answer is - that the likely answer is not yes or no.
Different areas of legal advice have their own market pressures. Conveyancing is very different to employment law, litigation very different to will writing.
The scope of this market study will need significant expansion to have any meaningful impact.
The Competition and Markets Authority (CMA) will examine long-standing concerns about the affordability of legal services and standards of service. Concerns have also been raised about the complexity of the current regulatory framework. In light of these concerns, the CMA’s market study plans to examine 3 key issues: whether customers can drive effective competition by making informed purchasing decisions whether customers are adequately protected from potential harm or can obtain satisfactory redress if legal services go wrong how regulation and the regulatory framework impact on competition for the supply of legal services