- Financial Performance: we reviewed our financial performance for 2022 and were pleased to see overall a strong operating profit, in part thanks to savings on back-office services, and in part thanks to there being more CILEX Fellows than anticipated leading to better-than-expected PCF income.
- Operations: we were pleased to see a significant improvement in CPD compliance with a reduction in Fellows not complying from 700 to just over 200 in the last 4 months. We also welcomed the LSB’s agreement to the new arrangements for qualifying experience (rather than employment) which while maintaining standards, should make it easier for example part-timers to qualify.
- Regulatory Performance Assessment: we considered carefully the LSB’s assessment of our performance last month, and agreed new transparency requirements so more of our Board papers and discussions are published. Over the next few months we will also consider a range of further enhancements to be implemented by the beginning of September.
- 2023 Strategic Plan: following our agreement in November to new Strategic and Business as Usual Plans for 2023, we will publish next month a summary which should be accessible to all. Our three priorities remain the same, namely:
– upholding standards while pursuing innovation and reducing regulatory burdens,
– Enhancing consumer information
– Championing fair access for all
- Complaints and Compliments: we had our annual review of the complaints and compliments we receive and were pleased to see compliments outweighed complaints 3 to 1.
- LSB Investigation: finally, we noted that we hoped shortly to receive the first draft of the LSB’s report into our dispute with CILEX on the future regulatory arrangements, and reaffirmed our commitment to full engagement with the regulated community when we are able.
Our next planned Board catch-up is on 22 March with our next full meeting on 9 May 2023.
Access the board papers for the 23 February 2023 meeting