LSB should continue to strengthen oversight to prevent consumer harm
13 Feb 2026
2 minutes read
News
The Legal Services Board (LSB) should continue to strengthen its oversight of regulators’ performance to avoid consumer harm and prevent collapses such as Axiom Ince and SSB Group from happening again, the Law Society of England and Wales said in response to its 2026/2027 business plan consultation.
Law Society president, Mark Evans, said: “The LSB continues to acknowledge calls from stakeholders to focus on its core functions under the Legal Services Act 2007.
“Strengthening regulatory oversight by monitoring regulators’ performance and identifying key concerns will directly benefit consumers of legal services.
“This is particularly important given the LSB’s identification of the legal market’s continuous and rapid change, to avoid repeats of firms collapsing and consumer harm such as Axiom Ince and SSB.
“Robustly holding regulators, such as the Solicitors Regulation Authority (SRA), to account via close monitoring of the enforcement actions initiated against them will ensure the public can have confidence that regulators are working effectively and in the public interest.
“This is particularly important to prevent or mitigate the risks of Axiom Ince and SSB-type scenarios happening again.”
Mark Evans added: “We are pleased to see a continuing focus on equality, diversity, and inclusion which aligns with the Law Society’s strategic priorities and regulatory objectives.
“Following the high budget increase last year, we welcome the LSB’s reduction of 0.5% in the budget for the coming year. We would expect such efficiencies to be reflected in future consultations.
“We look forward to working closely with the LSB, the SRA and others on the delivery of the business plan in the coming year.”
Earlier this week, the UK government announced it was launching a review into the LSB’s statutory remit, strategic clarity, governance and accountability arrangements, and its ability to deliver its remit.
“We welcome this review. It is an opportunity to speak up for proportionate risk-based regulation that protects consumers and helps the legal sector grow,” said Mark Evans.
“The Law Society will be responding to the call for evidence on behalf of our members.”
The Law Society is the independent professional body that works globally to support and represent solicitors, promoting the highest professional standards, the public interest and the rule of law.