LSB regulatory performance assessment consultation - Law Society response
The Legal Services Board (LSB) consultation sought feedback on a simplification and revision of its approach to assessing the performance of frontline regulators.
The Law Society has responded to the consultation and suggested areas for improvements, in particular the need for:
- A measure requiring front line regulators to provide evidence justifying the need for proposed regulatory changes, including relevance and priority
- Proportionality, transparency and consistency in the front-line regulators' approach to different types of rule change, enforcement and supervision
- Proportionality, transparency and consistency in decision-making processes
- Proportionality in allocation of cost burden on the regulated community
- Clear and stronger compliance with the Regulators' Code