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LSB to lead push for “minimum disclosures” by law firms on price and service

The Legal Services Board has said it expects frontline regulators to introduce compulsory “minimum disclosures” by law firms on price and service. The LSB was responding to the Competition and Market Authority market study of legal services.

April 20th, 2017 | No Comments »

Outstanding value? LSB persuades legal regulators to publish annual costs statements

The Legal Services Board has persuaded all the legal regulators to produce straightforward annual statements on their costs so that practitioners can clearly see how their money is being spent, it has emerged. As a result, the LSB has shut down its cost of regulation project and publish its own statement of costs.

April 12th, 2017 | No Comments »

Mixed response to LSB’s plan for regulatory overhaul, with Falconer calling for focus on unmet legal need instead

Reactions from key legal services industry bodies to the Legal Services Board’s blueprint for radical form of legal regulation have ranged from enthusiastic welcome to anger at its timing, while the politician who introduced the Legal Services Act 2007 said tackling unmet legal need was more of a priority.

September 14th, 2016 | No Comments »

New ABS rules will smooth path for group structures and private equity, says SRA

Freeing up the rules on licensing alternative business structures will help the Solicitors Regulation Authority deal with more complex applications, such as those from businesses that form part of a group or have private equity investment, it has told the government.

August 11th, 2016 | No Comments »

LSB declines to produce the “right” answer on indemnity insurance

The Legal Services Board has shied away from recommending a single solution which all the legal regulators should follow on indemnity insurance. The LSB instead called on the regulators to work more closely together on the issue.

July 25th, 2016 | No Comments »

LSB pushes for fully independent regulators to prevent professional bodies resisting reforms

The Legal Services Board has argued more strongly than ever that professional bodies must be fully separated from regulators. In a letter to the justice select committee, Sir Michael Pitt, chairman of the LSB, argued that there was scope under existing arrangements for them to “resist reforms”.

July 22nd, 2016 | No Comments »

LSB rule change to put spotlight on spending by professional bodies

The Legal Services Board has announced a change in its practising certificate fee rules, which will put the spotlight on spending by professional bodies such as the Law Society and Bar Council. Both professional bodies opposed the change.

June 6th, 2016 | No Comments »

LSB not convinced by plan to force law firms to publish prices

The Legal Services Board has said that “further discussion and evidence” is needed before it is prepared to back proposals to force law firms to publish average prices. The LSB was responding to a report by the Legal Services Consumer Panel.

June 1st, 2016 | No Comments »

LSB and SRA oppose ban on professional McKenzie Friends

The Legal Services Board (LSB) has joined the Solicitors Regulation Authority in opposing a ban on professional McKenzie Friends. The LSB said the judiciary had not explained why a ban was necessary, what harm it would address or what the consequences might be for consumers.

May 26th, 2016 | 2 Comments »

LSB research highlights surge in Law Society spending on ‘permitted purposes’

Law Society spending on non-regulatory ‘permitted purposes’, such as law reform and practice support, surged by £6.3m in the four years between 2010 and 2014, research by the Legal Services Board has revealed. The research was part of the LSB’s investigation into the cost of legal services regulation.

May 25th, 2016 | No Comments »