Legal Services Board should focus on core oversight role
10 Mar 2026
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News
The Law Society of England and Wales has today (10 March) said that the Legal Services Board (LSB) should focus on its core oversight role and set out a clear plan for a risk-based approach to overseeing frontline regulators.
In February, the Ministry of Justice (MoJ) announced a review* of the LSB, to provide assurance to the UK government and the public that it is operating effectively.
The Law Society’s response to the call for evidence call on the LSB to:
Focus on its core role, taking a risk-based approach and verifying performance information from frontline regulators
Make their current assurance model of oversight more robust to ensure stronger performance of the Solicitors Regulation Authority (SRA) and ensure it reflects the lessons of recent failures
Adopt a realistic workplan based on its competencies and capacity while capitalising on the skill and expertise of partner bodies, avoiding potential duplication.
Law Society president, Mark Evans, said: “There is a clear need for stronger regulatory oversight of frontline regulators’ core compliance activities as demonstrated by the collapses of Axiom Ince and SSB Group.
“The LSB’s ‘light touch’ assurance model adopted in 2022 is problematic as it relies on frontline regulators self-reporting the adequacy of their performance, with no absolute requirement for evidence.
“It has also led to the LSB forming an overall positive view of the SRA’s regulatory abilities based on information provided to it by the SRA, all while major regulatory failures were taking place.
“The LSB should prioritise its core regulatory oversight role by setting expectations, gathering and evaluating independent evidence, and intervening where standards are not met or where new risks are identified.”
Notes to editors
* The LSB was last reviewed by government in 2017.
The Law Society’s call for evidence response is available upon request.
About the Law Society
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.