On the 29th of March the Legal Services Board (LSB) launched a consumer-focused strategy for legal services in England and Wales, which included a call for all regulators in England and Wales to collaborate to reshape legal services to better meet society’s needs. It called for action from all regulators from its position as the oversight regulator, having been formed by the Legal Services Act 2007.
The ten-year strategy reflects that there are a number of challenges facing the legal services sector, and that many of these require a coordinated effort by different people and organisations in the sector, pursuing a common agenda. The strategy has identified nine challenges within the sector. These include closing gaps in consumer protection, empowering consumer choice and achieving fairer outcomes.
The LSB has also identified other priorities in the strategy, such as a statutory review of the reserved legal activities, a review of professional indemnity insurance, and work on simple legal products, but it has deferred these until resources permit.
Dr Helen Phillips, Chair of the Legal Services Board, said:
“While there have been many achievements over the last ten years of independent regulation, there continue to be significant levels unmet legal need. We must seize this moment to drive forward a strategy that promotes the public interest, supports competition and growth, and encourages diversity and inclusion. The LSB cannot do this alone – everyone in the sector must work together to pursue our shared interests. We are greatly encouraged by the commitment to collaboration that characterised so many responses to our consultation. Only by working together can the sector emerge strongly from the Covid-19 pandemic and successfully tackle the challenges it faces.If we all work together, we will improve diversity, and the sector will look more like the society it serves. The system will better support innovation and be equipped to respond to the changing market. Consumers will be able to shop around and reward firms that offer high-quality, transparent, and affordable services. The strategy is necessarily ambitious, and if we all play our part, we can achieve our vision. Through collaboration, we will reshape services to create a strong and resilient sector that better meets society’s needs.”