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SRA issues Risk Outlook 2021/2022

SRA issues Risk Outlook 2021/2022

The SRA has today published its annual Risk Outlook for 2021/2022. The report looks at what defines the ‘new normal: the shape of the legal market as it emerges from Covid-19 and gives the regulator’s view of the key changes, threats, opportunities and...
SRA seeks big increase in fining powers

SRA seeks big increase in fining powers

The Solicitors Regulation Authority has proposed a major hike in its fining powers and a new fast-track system for ‘fixed penalties’ for low-level offences. The regulator today opened a consultation on taking the maximum fine it can issue to law firms from £2,000 to...
SRA updates guidance on Transparency Rules

SRA updates guidance on Transparency Rules

The SRA has this week updated its guidance on the Transparency Rules. This now includes factors to consider if you are using an online quote calculator for conveyancing matters. The SRA have also emphasised that they will continue to tackle non-compliance with the...
Reporting Accountants’ requirements relaxed

Reporting Accountants’ requirements relaxed

Changes to the format of accountants’ reports for solicitors’ practices – and the criteria for qualifying accounts and submitting them – should further improve their value and reduce the burden on firms, the Solicitors Regulation Authority has...