LSB publishes new research into regulation of city firms

The Legal Services Board (LSB) has today published new research carried out on behalf of the Board by Charles Rivers Associates (CRA). The research examines the interaction of regulatory interventions with the particular segment of the legal services market taken up by city law firms.

The findings of the research provide an analysis of this part of the legal services market, specifically focusing on the risks presented to the regulatory objectives set out by the Legal Services Act 2007. The analysis sets out observations on the type of clients served at the city end of the market, as well as the profile of services being delivered by lawyers in this part of the industry. Building on this, the findings provide an insight into providers’ engagement with the regulators operating in the sector – as well as how providers interact within specific areas of interest such as processes for identifying risk and outcome-focused regulation.