Bates Wells and Braithwaite is leading a campaign to urge the government to establish a bespoke regulator for social investment, as keeping it under the Financial Services Authority (FSA) will be prohibitively expensive for modestly-sized civil society organisations.

It follows on from a report, published by Bates Wells and Nesta last month, which suggests how a social finance legal and regulatory regime could be established.

The report, Investing in Civil Society, has already been recommended to government by the Red Tape Task Force, led by Lord Hodgson of Astley Abbotts, president of NCVO.

Luke Fletcher, an associate at law firm Bates Wells and Braithwaite and author of Investing in Civil Society, has created a template letter which stakeholders can send to their MPs about the proposals.

The letter asks MPs to urge Mark Hoban MP, financial secretary to the Treasury, to request that a consultation be issued on the idea of a new regulatory regime for social investment, as part of the Treasury’s reforms of the financial system in the UK.