The Chief Executive of the Law Society of England and Wales has committed to a boycott of HSBC bank in protest at the firm's decision to limit its Conveyancing panel, and has urged all members of the Society to lobby Parliament in protest at HSBC’s “high handed and arrogant decision”.

In an open letter to the profession, Chief Executive Desmond Hudson told members that the Society would be using its resources to facilitate members’ informing their MPs of their concerns.

“The Society is satisfied that these arrangements and decisions by the bank are injurious to the bank's client solicitors firms who undertake conveyancing and will no longer be able to do so for the bank. We also consider the arrangements to be contrary to consumer freedom of choice and that this arrangement will be counter to the long term interests of consumers,” he said.

He said that the Society “completely understand the thinking” behind the decisions of firms to close their banking arrangements or move their client account from HSBC.

“For our part, the Society has decided that it will ensure that none of its funds are placed with HSBC or any member of the HSBC group, and we will be taking steps to consider any trading relationships we have with HSBC or the HSBC group," he said.

“The Society will also be contacting the Building Societies Association, the Council of Mortgage Lenders, the Financial Services Authority and the National Fraud Authority to share our concerns about these matters and the detriment that is being caused by HSBC's high handed and arrogant decision.

“We would also urge all solicitors concerned about this matter to contact their MP. We are making available the necessary tools (PDF) prepared by the Society's Public Affairs department which will enable you to identify your MP, and a guide to preparing letters to your MP, which solicitors may find of interest and assistance.”

The letter can be read here.