Legal Services Bill [HL]

Perhaps I may clarify the position of the consumer lobby in this respect. Yes, I do not trust the existing regulators; however, I believe that the structure put forward in the spirit of Clementi would actually ensure that those regulators behaved properly in relation to consumers and that the intervention of the LSB would be pretty rare. I am not in favour of it, nor is the consumer lobby, as the noble Lord put it; so I hope that I have clarified that position. I want light-touch regulation, but regulation which results in a front-line regulator that we can all trust.