The Legal Services Regulators published this week their submission to the Ministry of Justice on progress in the deregulation of the legal services market. Part of the document reflects on the acheivements since 2007 and it is an impressive list. The regulators then go on to suggest some very sensible amendments to the Legal Services Act particularly where the Act is too presriptive and it would be better to allow the regulators to have a flexible approach. This is particularly in the area of the structure of ABS and the checks the regulators are required to make prior to authorisation.
There is however a disconnect between these modest suggestions and Michael Gove's indication to the Justice Select Committee last week that there would be a review of legal services regulation during this parliament. The reason for this is that the regulators submission was provided to MoJ before Michael Gove's comments
Today the Legal Services Board (LSB), on behalf of all the legal services regulators of England and Wales, publishes the regulators’ collective response to the cross-economy drive to find more opportunities for deregulation. Regulators have been working together to identify opportunities for deregulation, with the aim of reducing burdens on practitioners and freeing up the market to deliver economic growth.