Approving changes to regulation

The Legal Services Act provides that Approved Regulators must obtain approval from the LSB to alter any of their Regulatory Arrangements. The only exceptions are where the LSB has directed the change to be exempt from the requirement for approval.

The Act defines Regulatory Arrangements broadly so as to apply to all rules and regulations and any other arrangements which apply to regulated persons apart from those made for representational or promotional purposes.

If you would like to find out more about the process for approving changes to Regulatory Arrangements, please contact .

Applications

Information on all applications can be found here.

If you have any questions regarding the implications of a particular application, which is either pending approval or has already been approved, please contact the relevant Approved Regulator.

Rules

The rules for approving changes to the Regulatory Arrangements set out the requirements and explain the process by which applications will be dealt with.

Applications must demonstrate compliance with the criteria set out in the rules in order to be considered and approved. The application must convince us that it should be approved.

The LSB has developed some guidance to assist Approved Regulators in preparing applications.

Decisions

The LSB, following consideration, will either approve or reject the rule change application. Alternatively, the Board may issue a ‘warning notice’.

While approval or rejection is definitive, a warning notice, flowchart attached has two main purposes under the Act: to give a period of up to 18 months beginning with the day on which the approved regulator received the notice for the LSB to further consider the application, including refusal; and to provide the option to invite such persons as the LSB considers appropriate to give the Board advice regarding whether the application should be granted.

Process Maps

A process map summarising the arrangements set out in the rules can be found here

Lessons Learned

In June 2010, we completed a review of our approval process with the Approved Regulators that had made applications. Information on our findings and recommendations can be found here.

Consultation

All interested parties will have the opportunity to provide views on important proposed alterations as the Approved Regulator is required to consult widely prior to submitting an application. It is not the role of the LSB to consult on applications or to receive representations after an application has been received.

Sending the application

Applications for approval of changes to Regulatory Arrangements should be submitted us, either by email, post or courier to the relevant address shown below:

If by email to:

If by post or courier to:

Address: Legal Services Board
7th Floor Victoria House
Southampton Row
London
WC1B 4AD
For the attention of: Rule Change Administrator

Please note that on receipt of the application, a copy of the proposed alterations to the applicant’s Regulatory Arrangements will be published on our website. It is the responsibility of the applicant to explicitly advise whether any information contained within the application is sensitive, and should therefore not be published.

We will also keep the website updated as to the current status of applications.