News
SRA consult on rules to restrict excessive fee charging in financial mis-selling claimsApril 3, 2023SRA issues consultation on new rules designed to restrict excessive fee charging when firms make compensation claims on behalf of their clients for mis-sold financial products. Once finalised, the rules will introduce important new regulatory safeguards into the Standards and Regulations, and enable the SRA to deliver on its statutory duty under the Financial Guidance and Claims Act 2018Read More
Challenges facing in-house solicitorsMarch 16, 2023The Solicitors Regulation Authority (SRA) has undertaken a review of in-house solicitors to gain a greater understanding of the issues that they face. The review found that most respondents felt comfortable advising their employer that they could not take an unethical action, although a minority struggled to balance their duties with their organisation’s prioritiesRead More
Rules for post six-year client protection finalisedFebruary 20, 2023SRA Board agrees the final rules for bringing the Solicitors Indemnity Fund (SIF) under the control of the SRA to ensure future consumer protection for post six-year negligence claimsRead More
SRA Approach to Fines and Publishing DecisionsFebruary 17, 2023SRA publishes details of the changes it is to make in how it levies financial penalties on law firms and solicitors and how it will publish disciplinary information.Read More
Treasury Publish AML ReportJanuary 24, 2023HM Treasury publishes its tenth AML report "Anti-money laundering and countering the financing of terrorism: supervision report 2020-2022", which highlights a number of areas of key non-compliance.Read More
SRA SLAPPs WarningDecember 1, 2022The SRA has issued a warning to solicitors to be cautious over becoming involved in abusive litigation aimed at silencing legitimate critics, known as strategic lawsuits against public participation.Read More
SRA produce guidance on effective supervisionNovember 28, 2022SRA publishes new guidance for those solicitors and firms that supervise individuals delivering legal services including where those services are delivered by individuals not authorised by the SRA. Read More
Call for Standardisation of Consumer InformationOctober 24, 2022Legal Services Consumer Panel calls upon legal services regulators to be more proactive in their attempts to get lawyers to present clearer and more directly comparable information to consumers.
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Report claims lawyer impunity for AML breachesOctober 20, 2022Report by the anti-corruption organisation "Spotlight on Corruption" claims that law firms in the UK "face almost zero risk of criminal enforcement if they breach money laundering rules, and very little prospect of meaningful fines".Read More
SRA-run post six-year indemnity fund scheme proposedSeptember 16, 2022SRA announces that the existing Solicitors Indemnity Fund arrangements, as operated by the Solicitors Indemnity Fund Limited (SIFL), will be replaced with their own indemnity arrangements from September 2023Read More