Resumen
The Legal Services Act 2007 reformed regulation of legal services in England and Wales. It created the Legal Services Board as oversight regulator, allowed Alternative Business Structures (ABS) enabling non-lawyers to own law firms, and defined reserved legal activities.
Puntos clave
- Legal Services Board (LSB) established as oversight regulator
- Regulatory objectives including protecting consumers and promoting competition
- Reserved legal activities: exercise of rights of audience, conduct of litigation, reserved instrument activities, probate, notarial, and oath administration
- Alternative Business Structures (ABS) — non-lawyers can own and invest in law firms
- Office for Legal Complaints — established the Legal Ombudsman
- Approved regulators — SRA, BSB, CILEx Regulation, etc. regulated by LSB