Faculty Office issues Consultation on changes to Notary market acknowledging that engagement with sites like findmyNotary will assist consumers and “will ask our regulated community to participate.”
The Faculty Office has produced its Consultation on the proposals set out in its Action Plan (June 2017) to address the recommendations for changes set out in the Competition and Market Authority’s market study into Legal Service (December 2016)
findmyNotary welcomes this opportunity to help facilitate the changes required and are looking forward to contributing to the consultation process.
Here are some of the main proposals:
- To change the Notaries Practice Rules 2014 to prescribe more transparency of information
- To require Notaries to publish information on price, service, redress and regulatory status and for these to be “in the public domain so that consumers can access it”
- To require Notaries to provide information on the level of Professional Indemnity Insurance which a Notary carries, number of years qualified and any other qualifications
- All information is required to be offered “in a clear and consumer-friendly format”
- With regards to third party websites, “we will ask our regulated community to participate”
findmyNotary offers Notaries a platform that already addresses all of these potential requirements. A full profile on the site provides all of the above information and more, as well as the opportunity for Notaries to be reviewed. 81% of consumers conduct research before using a service (AdWeek Dec 2014) 77% are very likely to use online reviews when choosing Notary services ( Usage and Attitude Study June 2017, South-East).
findmyNotary is excited to be part of this consultation process and welcomes the Faculty Office’s recognition of the changes that need to be made.
findmyNotary offers Notaries the chance to get ahead of the game. Start complying with the changes now and become part of our network of forward-thinking Notaries.