Report calls for changes to Legal Services Board
An independent review, commissioned by the Ministry of Justice, into the Legal Services Board (LSB) has recommended that an overhaul of Legal Services Board (LSB) is required.
The report, which was led by Richard Lloyd OBE, was critical of the LSB and recommended a number of changes.
The review concluded that the LSB has "lost its way" and needs a significant strategic reset. However, it said that “with the right changes, the LSB should be capable of playing a more effective and influential oversight role within the regulatory framework”.
The review recommends that the Ministry of Justice carry out a fuller legislative review of legal services regulation by 2029, with many of the more immediate recommendations expected to be implemented within six months to a year.
Click here to read the review in full
Minister of State for Courts and Legal Services Sarah Sackman KC MP commissioned the report. Richard Lloyd OBE, who led the review, is the current Chair of the Independent Parliamentary Standards Authority.
CITMA contributed our views to the review, click here to read our full response.
The LSB was introduced by the Legal Services Act 2007. It was established to oversee the ‘frontline’ regulators, which emerged from professional bodies, and the Legal Ombudsman.
CITMA is the approved regulator of the trade mark attorney profession, which we delegate to the Intellectual Property Regulation Board (IPReg).
Commenting on the report, Monisha Shah, Chair of the Legal Services Board, said: “I welcome the publication of Richard Lloyd’s review and the recommendations in his report. Regulatory failures have resulted in significant consumer detriment. We accept our responsibility in the failure of the system to protect the interests of consumers. The public have a right to expect better outcomes from the legal regulatory framework.
“This report gives us a clear, independent basis for a major reset. We will introduce a sharper regulatory focus and a more dynamic, risk-based approach to oversight, directing our work and resources towards issues which present the greatest risk to consumers.
“I will take this report forward with the Board, our recently appointed permanent Chief Executive, Richard Orpin, and our committed team of people. We will consider the recommendations in full, working closely with the Ministry of Justice, the regulators and others, and set out how we will take them forward.”