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Regulatory Performance

Consultation has now commenced on the revised Regulatory Performance Assessment Framework and will remain open until Monday 25 September 2017.

Through the consultation we are seeking views on whether the framework is fit for purpose and will achieve the intended aim of effective scrutiny and oversight of the regulators' performance.

You can view the consultation document on our open consultations page here.

Our current approach to assuring ourselves, the public, consumers, the professions and others about the performance of the regulators (the regulatory standards framework) has been in place since 2011. Since that time we have completed two full assessments of the regulators' performance against the regulatory standards and published the outcomes of this work. These reports can be found here: Projects - Legal Services Board - Developing regulatory standards.

Given the time elapsed since the inception of the regulatory standards framework and process, our experiences in using it and feedback from the regulators, we consider that now is an appropriate time to carry out a review of it. This is reflected in our Business Plan 2016/17 where we said that we would:

  • "review whether the current regulatory standards process provides sufficient assurance about how the regulators are performing
  • examine the extent to which our existing review processes operate in a risk-based, proportionate and targeted way
  • examine whether those processes are clearly linked to the regulatory objectives and the better regulation principles."

In order to carry out this work we intend to:

  • reviewed the regulatory standards framework
  • reviewed the processes we use to assessing the regulator's performance
  • reviewed how we involve stakeholders of the regulators in the assessment of the regulators' performance
  • reviewed the evidence base that we collect and use to assess the regulators' performance.

In doing this we have:

  • undertaken desk-based research on other regulatory oversight schemes used in the UK and internationally, and spoken with some of the regulators who carry out these roles,
  • obtained the views of the regulators, our colleagues, and the Legal Services Consumer Panel
  • tested our proposed changes on the framework with the regulators, the Legal Services Consumer Panel and our internal auditors.

This project will continue throughout 2017/18. It is anticipated that we will consult on the proposed revised regulatory performance framework in Summer 2017.

If you would like further information on this project or to be involved in this project as a stakeholder of the regulator, then please contact the Project Manager, Emma Kelly-Dempster at emma.kelly-dempster@legalservicesboard.org.uk.