Regulation

Legal services regulator continues focus on diversity, inclusion and innovation

Solicitors’ leaders today welcomed the Legal Services Board’s (LSB) 2022/2023 business plan, which continues to focus on diversity and inclusion (D&I) as well as technology and innovation in the profession.

“We are pleased the LSB is continuing to focus on D&I, technology and innovation, which align with the Law Society’s priorities,” said Law Society of England and Wales president I. Stephanie Boyce.

“The legal services regulator is also continuing its work on ongoing competence and building a better understanding of the unregulated market. We look forward to further opportunities to engage in and provide input into this work.

“The delivery of successful outcomes will depend on a collaborative approach with many stakeholders, including the Law Society, as the LSB publishes initial results and updates about how these workstreams are progressing.

“We would, however, like to see its core function of discharging statutory functions given greater prioritisation and resources.

“The LSB should particularly focus on addressing the Legal Ombudsman’s (LeO) performance failures and monitor its progress against deliverable targets to ensure clients and the profession have confidence in the redress mechanism.

“It is vital the LSB prioritises its workload so it’s cost effective and manages its budget effectively. Part of this must include taking into account the current market conditions.

“While the overall economic health of the sector remains strong. Small firms, including high street practices and sole practitioners, face challenging economic conditions.

“These practices were worst hit by the Covid-19 lockdowns and will struggle most with the increased cost of living and increasing financial pressures, such as rising inflation.

“It is critical the LSB works closely with the Solicitors Regulation Authority (SRA), other regulators and professional bodies to help the hardest hit parts of the profession recover economically and fulfil its role in promoting access to justice and the rule of law, which will drive Britain’s economy forward.”

Notes to editors

Read the LSB’s draft business plan 2022/2023 (PDF)

Read the Law Society’s full consultation response

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.

Press office contacts: Naomi Jeffreys | 020 8049 3928

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