Regulatory arms criticized over inadequate performance: Law Society and Bar Council speak out

The Legal Services Board has issued a scathing assessment of the performance of the Solicitors Regulation Authority (SRA) and Bar Standards Board (BSB), giving them red ratings and highlighting the need for urgent improvement. Both the Law Society and Bar Council have criticized their regulatory arms for their inadequate performance.

Law Society chief executive Ian Jeffery expressed concern over the SRA’s lackluster performance, stating that urgent action is needed to regain the trust of the sector, members, and consumers. He emphasized the importance of effective regulatory oversight in maintaining consumer confidence and called for a refocus on core responsibilities and improved risk management.

Similarly, Bar Council’s regulation panel chair, Stephen Kenny KC, acknowledged the concerns raised by the oversight regulator regarding the BSB’s slow pace in delivering critical regulatory activities. He supported the LSB’s suggestion for more stringent targets for timeliness and emphasized the need for the BSB to prioritize key regulatory activities over expanding its program.

In response, the SRA and BSB have both committed to discussing the assessment with their respective boards and developing action plans to address the identified shortcomings. The BSB highlighted its ongoing efforts to implement reforms and improve performance, while acknowledging the need for further changes to happen at a faster pace.

The legal regulatory bodies are now under pressure to demonstrate significant improvements in their performance and transparency to ensure the protection of consumers and maintain the trust of the legal sector.