▁are ▁sufficiently ▁independent ▁from ▁one ▁another . ▁▁ ▁It ▁does ▁this ▁by ▁establish ing ▁In ternal ▁Govern ance ▁R ules ▁( IG R ), ▁which ▁dict ate ▁how ▁regul ators ’ ▁independent ▁regul atory ▁arms ▁are ▁kept ▁independent . ▁▁ ▁When ▁regul ators ▁make ▁changes ▁to ▁the ▁rules ▁gover ning ▁those ▁they ▁reg ulate , ▁they ▁are ▁required ▁to ▁submit ▁an ▁application ▁to ▁the ▁L SB . ▁The ▁board ▁then ▁ass esses ▁these ▁changes ▁against ▁a ▁set ▁of ▁criteria ▁on ▁which ▁applications ▁can ▁be ▁refused , ▁laid ▁down ▁in ▁the ▁Act . ▁ ▁The ▁following ▁list ▁is ▁a ▁break down ▁of ▁the ▁different ▁legal ▁prof essions , ▁along ▁with ▁the ▁approved ▁reg ulator ▁for ▁that ▁profession ▁and ▁its ▁independent ▁regul atory ▁arm . ▁ ▁The ▁approved ▁regul ators ▁are : ▁ ▁The ▁L SB ▁has ▁the ▁power ▁to ▁recommend ▁to ▁the ▁Lord ▁Chan cell or ▁that ▁they ▁appro ve ▁further ▁approved ▁regul ators . ▁ ▁This ▁means ▁that ▁new ▁bodies ▁can ▁apply ▁to ▁the ▁L SB ▁to ▁become ▁front - line ▁regul ators ▁of ▁parts ▁of ▁the ▁legal ▁profession . ▁As ▁a ▁result ▁of ▁the ▁L SA ▁ 2 0 0 7 ▁coming ▁into ▁force , ▁all ▁changes ▁to ▁these ▁bodies ' ▁internal ▁professional ▁regul atory ▁arrang ements ▁must ▁be ▁approved ▁by ▁the ▁L SB .[ 1 0 ]: s . 2 0 / ▁Sch . 3 , ▁P t . 3 ▁ ▁Under ▁Section ▁ 5 1 ▁to ▁ 5 4 , ▁the ▁L SB ▁has ▁a ▁duty ▁to ▁reg ulate ▁pract