WIREDGOV

Cardiff is to be the first city outside of London to host a board meeting of the Legal Services Board (LSB) and the news has been welcomed by the Financial and Professional Services Sector in Wales.

The LSB - the independent regulator with responsibility for overseeing the regulation of legal services in England and Wales – holds its board meeting in Cardiff, on Monday 27th October. It is the first time the LSB has held a formal Board meeting outside of London since it took on its powers in January 2010.

Welcoming the move Chris Nott, Managing Partner of Capital Law and Chair of the Welsh Government’s Financial and Professional Services Sector Panel said:

“Legal services are a key component of the rapidly expanding Financial and Professional Services Sector in Wales -  a priority economic sector with high growth potential.

“We have a vibrant legal sector here and are actively promoting Cardiff and South Wales as the location of choice for delivering high quality and cost effective legal services through service partnerships or as an outsourcing location for the London legal community. The visit by LSB will help raise the profile of what we are doing in Cardiff and what Wales  has to offer the sector.

“Cardiff is a very cost effective base for business and we have a compelling proposition for companies looking to relocate or expand here. We have an Enterprise Zone in the heart of the city dedicated to the sector which can offer  attractive financial support packages as well as Grade A office accommodation and a skilled, qualified workforce.

“Accessibility is another plus point and the LSB will appreciate that Cardiff  is a short rail journey from London while Cardiff to Canary Wharf will take just two hours with electrification of the main line.”

Speaking about the decision to hold its first meeting in Cardiff, Sir Michael Pitt, chair of the LSB explained:

“Given the Board’s responsibility for legal services in Wales, locating its first out of London Board meeting in the Welsh capital was an easy decision to take.

“There is a vibrant Welsh legal services market.  Couple that with the unique features of the devolved administration and the specific needs of Welsh consumers, the choice of Cardiff was both easy and really just pure common sense.“

Sir Michael Pitt and Chris Kenny, LSB Chief Executive, will meet Theodore Huckle QC, Counsel General and Jeff Godfrey, Director of the Welsh Government’s Legal Services Department, ahead of their Board meeting. 

Following the meeting, LSB is holding a networking and stakeholder event for the legal profession at the National Museum for Wales in Cathays Park, Cardiff, to mark its first meeting in the city. It will provide an opportunity for Board members to meet legal professionals in South Wales.