Legal Services Board report monitors LSA impact
4th April 2012
A five-year progress report from the Legal Services Board (LSB) has conceded that, so far, the Legal Services Act of 2007 has not led to wholesale changes in the sector.
The LSA legislated for the introduction of Alternative Business Structures (ABSs), which allows private practices to merge with non-legal firms and was designed with the intention of creating more competition and getting consumers better value for money, as well as improving judicial regulation and access.
Concerns had been raised in recent months that implementation of the process has not happened quickly enough, although the LSB is keen to emphasise that the Legal Services Act is still relatively young and that they expect more widespread changes to come into effect over the next few years.
Announcing the initial findings, LSB regulatory research manager Robert Cross noted that people with legal jobs have generally come through the recession much more comfortably than those in other industries, with demand for services staying strong.