Plays a role in pre-mRNA splicing as component of the U4/U6- U5 tri-snRNP complex that is involved in spliceosome assembly, and as component of the precatalytic spliceosome (spliceosome B complex) (PubMed:28781166, PubMed:35047835). The heptameric LSM2-8 complex binds specifically to the 3'-terminal U-tract of U6 snRNA (PubMed:10523320). {ECO:0000269|PubMed:10523320, ECO:0000269|PubMed:28781166, ECO:0000269|PubMed:35047835}. This is the function of LSM7 (LSM7 homolog, U6 small nuclear RNA and mRNA degradation associated, Ensembl gene identifier ENSG00000130332).