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The Legal Services Board is an oversight regulator, and sits at the top of the regulatory system for legal services in England and Wales. It provides regulatory oversight of the eight ‘’approved regulators’’ named in the Legal Services Act of 2007 (LSA 2007), and two additional regulators added since the act gained Royal Assent.
The Law Society remains the approved regulator, although following the Legal Services Act 2007 a new body, the Legal Services Board (chaired by Sir Michael Pitt, a government appointee) oversees all the approved regulators including the Bar Council, which has also divested its regulatory functions into the Bar Standards Board.
The Legal Services Board does not have the power to recommend to the Lord Chancellor that he approve further approved regulators (s. 20/ Sch. 4, Pt. 2). The regulatory arrangements of all the approved regulators defined in Sch. 4, Pt. 1 remain in place at the coming into force of the Act but thereafter, all changes to internal professional ...
The Legal Services Board provides cross-sector oversight regulation of the legal services sector in England and Wales, overseeing the eight separate bodies named as approved regulators in the Legal Services Act 2007. The Legal Services Board was established by the Legal Services Act 2007 and became fully active on 1 January 2010. [56]
The Law Society remains the approved regulator, although following the Legal Services Act 2007 a new body, the Legal Services Board (currently chaired by Dr Helen Phillips [6]) oversees all the approved regulators including the Bar Council, which has also divested its regulatory functions into the Bar Standards Board.
Silicon Valley Bank's deposits were backstopped by the government over the weekend, a move made possible by a narrow legal exception inside a 32-year-old banking law.
The BSB's functions were originally carried out by the General Council of the Bar, the barristers' representative body, until 2006 when the Bar Council created the BSB as an independent regulator. The Legal Services Board has once - in 2013 - questioned the independence of the BSB from the Bar Council. [1]
Under the Legal Services Act, CIPA has to separate its regulatory activities from its representative work as the professional body for patent attorneys. In 2010, CIPA and the Chartered Institute of Trade Mark Attorneys (CITMA) set up the Intellectual Property Regulation Board (IPReg) [ 5 ] to undertake jointly the regulation of the patent ...