Latest Solicitors News - April 2010
SRA to consult on major regulation changes
The Solicitors Regulation Authority (SRA) has launched its consultation process on the regulation changes which will come into force in October 2011 - at the same time as alternative business structures.
This will see a move towards outcomes-focused regulation, concentrating on the quality of the services provided to clients. The aim is to cut the current red tape and bureaucracy, giving firms the ability to innovate and deliver their business in the manner that best matches their clients' needs.
While flexibility and freedom are key to the new proposals, firms which flout their professional principles and fail to work with the SRA to deliver good quality legal services will face harsh penalties.
Under the Legal Services Act 2007, licensing authorities will be able to issue fines to the firms they regulate, and the SRA is waiting for approval on proposals which will enable it to impose sanctions of up to £2,000.
Solicitors and consumers will be given a chance to comment on the changes. The first consultation in April will look at the broader context of the proposed form of regulation, while the second will cover the new rule book, including the code of conduct. This will be published at the end of May.
Additionally, there will be a series of roadshows in May and June, which will introduce the proposed changes and provide a chance for practitioners and managers to discuss how the proposals will affect both their firms and clients.
For further information, please contact us on 0121 355 4774 or email
info@je-consulting.co.uk or send us an enquiry.
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