LSB wants more transparency in legal sector by 30 June

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The LSB today published four outcomes it wants regulators to achieve, including a ‘step change’ in standards of transparency to help consumers understand the price and service they will receive. Clients must also have more understanding of the redress options available and the regulatory status of their provider.

The LSB wants promotion of the use of independent feedback platforms, more data accessible through comparison tools and better information available to assist consumers when they identify their needs.

On this final outcome, regulators are urged to either enhance the existing Legal Choices website and pursue alternative mechanisms such as partnering with existing websites like the one run by Citizens Advice.

But regulators are warned off creating their own accreditation schemes and reminded this is still the role of representative bodies.

The LSB said its policy is that frontline regulators should set the minimum standards required of firms, with schemes to promote higher standards left to others.

Neil buckley

Neil Buckley

Neil Buckley (pictured), LSB chief executive, said his organisation is encouraged by the ‘collective goodwill and early progress’ from regulators since December and is keen that this continues.

He added: ‘The LSB has long been clear that there is a need to increase competition in the market and a major part of achieving this will be to ensure there is better information available for consumers in relation to price, quality, redress and regulation.’

One frontline regulators have published their action plans, these will be assessed against the LSB’s preferred outcomes.

Responding to the Legal Services Board (LSB) recommendations following the Competition and Markets Authority (CMA) market study, Bourns said: ‘It is helpful that the LSB has set out its thinking on how the frontline regulators may implement the CMA’s recommendation.