The independent review of the Legal Services Board, conducted by Richard Lloyd and published by the Ministry of Justice, was published on 13 July 2026. Commenting on the report, Monisha Shah, Chair of the Legal Services Board, said:
“I welcome the publication of Richard Lloyd’s review and the recommendations in his report. Regulatory failures have resulted in significant consumer detriment. We accept our responsibility in the failure of the system to protect the interests of consumers. The public have a right to expect better outcomes from the legal regulatory framework.
“This is an important moment of reflection for the Legal Services Board about our impact in protecting and promoting the interests of consumers in a rapidly changing legal services market.
“The LSB has a pivotal role to play to ensure trust and confidence in the sector, which in turn supports innovation, growth and access to justice for consumers and businesses. We are committed to working with frontline regulators to improve legal services and to protect and promote the interests of consumers in a rapidly changing legal services market.
“This report gives us a clear, independent basis for a major reset. We will introduce a sharper regulatory focus and a more dynamic, risk-based approach to oversight, directing our work and resources towards issues which present the greatest risk to consumers. This work has already begun. Planned changes include separating our enforcement and oversight function from our regulatory policy and engagement work. We will build on this with a consultation in the autumn on a focused three-year strategy setting out our priorities. This will replace our current 10-year sector-wide strategy.
“The LSB operates in a complex regulatory framework. Many colleagues across the legal system took the time to engage with the review and their important perspectives are reflected in this report and its recommendations. The recommendations in this review will prompt further reflection for the LSB and, more generally, for government, frontline regulators, and the professions, all of whom have an important role to play in ensuring the effectiveness of the wider system. The report sets out areas where the LSB can play a greater role in facilitating a sector-wide shared understanding of priorities, risks and purpose.
“I will take this report forward with the Board, our recently appointed permanent Chief Executive, Richard Orpin, and our committed team of people. We will consider the recommendations in full, working closely with the Ministry of Justice, the regulators and others, and set out how we will take them forward.”