Our approach to policy development
We believe that changes to our regulatory framework should be developed in a way that is open and transparent. So far as reasonably practicable, we take an evidence-based approach to developing and evaluating our policies.
- Engage with our stakeholders to understand how they are affected by emerging risks and other issues
- Provide stakeholders with balanced, objective and timely information, to encourage informal participation and feedback
- Commission research projects as necessary, to assist in providing an evidence base for our work
- Hold formal consultations where appropriate and publish the feedback we receive on our website
- Evaluate the impact of our decisions
We comply with the provisions of the Legal Services Act 2007 when making changes to our regulatory framework. This means that many of our policy decisions (although not all) are subject to approval by the Legal Services Board (LSB).