It is a great idea to look at the complexity and effectiveness of the Regulatory framework.
As far as the cost of legal services is concerned I would have thought that the new entrants we are now seeing and the new ideas about pricing and structuring legal services will address the problem better than any competition enquiry can.
The Competition and Markets Authority (CMA) has announced a study of the legal services sector for consumers and small businesses so as to examine “long-standing concerns” about affordability and standards of service. The CMA said concerns had also been raised about the “complexity of the current regulatory framework”. The market study is an initial step that could result in the CMA making recommendations to government, taking “competition or consumer law enforcement action” or moving on to an in-depth investigation.