LSB publishes decisions on levy arrangements

LSB publishes decisions on levy arrangements

The LSB yesterday announced its proposals for recouping the ongoing running costs for the LSB and Legal Ombudsman from Approved Regulators.

The arrangements maintain the methodologies that are currently used to calculate the levy for the establishment costs. In addition, there are arrangements that will enable the LSB and Legal Ombudsman to recoup their costs in certain situations, such as, in the unlikely event of an Approved Regulator becoming bankrupt. The LSB will review the levy arrangements in 2013-14 and consider whether the methodologies can be improved in light of more data becoming available.

Chris Kenny, Chief Executive of the Legal Services Board said:

“We want the costs of the levy to be allocated in a way that is clear, simple and practical. We believe that our proposals achieve this. The more effective regulation and redress that these proposals underpin will help to raise consumer and public confidence in legal services, not least by opening up new ways to do business”.

Terms and Conditions | Site Map | Privacy and Cookies

Copyright © 2017 Richard Nelson LLP and Murdochs. All rights reserved.
The Lawyers Defence Group is operated by Richard Nelson LLP, a Limited Liability Partnership authorised and regulated by the Solicitors Regulation Authority and whose partnership number is OC357136 and Murdochs Solicitors, who are also authorised and regulated by the Solicitors Regulation Authority, and whose SRA number is 52683.
Please note that all advice, guidance, representation and assistance, legal or otherwise, is provided either by those firms or by appropriate referral to other suitably qualified persons. No advice, guidance, assistance, representation or other support is provided by or in the name of the Lawyers Defence Group.
For further details please refer to the terms and conditions for use of this web site and to the terms and conditions of the firms involved.
The professional rules governing our lawyers can be found at rules.sra.org.uk