The transparency rules were introduced in December 2018 to help consumers make properly-informed decisions about the services available to them. The vast majority felt solicitor firms were unaffordable and therefore going elsewhere for help dealing with a legal need.
Firms with a website should publish basic, indicative information about certain services, as well as details about who might carry out the work, and avenues for complaint if the work delivered is not as expected.
The SRA’s research suggests that the majority of firms are adhering to the rules, and indeed have already noticed the business benefits. However, checks carried out by the regulator over the course of last year have found that some firms are not. Hundreds of firms have been through this process and, where the SRA find non-compliance with the rules, they will engage with that firm in the first instance. If a firm persists in failing to comply, action will be taken. The SRA will be carrying out further exercises throughout 2021 to check individual firms are complying with the rules, so you need to act now.
Law firms are being urged to check that they are up-to-date with all the latest developments and legislation regarding money laundering by reading...