Tag Results

Reviewer warns of risk that public will see SRA as biased in favour of solicitors

There is a “real risk” that members of the public will view the Solicitors Regulation Authority as “simply preferring the word of solicitors”, its independent review body has concluded. The Independent Complaint Resolution Service called for a review of compensation claim fund claims.

January 19th, 2016 | No Comments »

SRA board backs radical changes to separate business rule

The Solicitors Regulation Authority approved a radical overhaul of the separate business rule at its board meeting yesterday, despite strong opposition from the Law Society. The changes are planned to come into force on 1 November this year.

June 4th, 2015 | 2 Comments »

BSB seeks power to shut down chambers

The Bar Standards Board (BSB) has proposed that it should be given, for the first time, the power to intervene in barristers’ practices and chambers. It also wants new powers on fines and setting up a compensation fund.

May 15th, 2015 | No Comments »

Consumer panel attacks CLC over plans to halve compensation grants

The Legal Services Consumer Panel has strongly attacked plans by the Council for Licensed Conveyancers to cut the size of grants from its compensation fund from £1m to £500,000 – a quarter of the amount clients of solicitors can claim.

April 8th, 2015 | No Comments »

More lawyers demand independent review of their treatment by SRA

The number of lawyers demanding an independent review of their treatment at the hands of the Solicitors Regulation Authority has gone up, despite a decline in members of the public making a similar request.

March 10th, 2015 | 1 Comment »

Compensation Fund could pay the price after High Court buy-to-let ruling

The Solicitors Compensation Fund could be hit by a new wave of property claims after a High Court ruling on two test cases relating to a buy-to-let scheme.

November 7th, 2014 | No Comments »

Compensation fund faces £2.5m bill for uninsured law firms

The Solicitors Regulation Authority expects its compensation fund to have to pay out up to £2.5m in the next practising year to cover the cost of negligence claims against uninsured law firms, it has emerged.

August 27th, 2014 | No Comments »

SRA goes ahead with £500,000 PII limit but postpones other reforms

The Solicitors Regulation Authority has decided to go ahead with cutting the minimum compulsory cover for indemnity insurance from £2m to £500,000, despite strong opposition from the Law Society.

July 3rd, 2014 | No Comments »

SRA bids to slash minimum PII cover to £500,000

The Solicitors Regulation Authority has called for the minimum level of indemnity cover firms must obtain to be cut to £500,000. The existing limits are £2m for traditional partnerships, or £3m for incorporated practices.

May 8th, 2014 | No Comments »

Sole practices responsible for 45% of claims on compensation fund

Sole practices are responsible for 45% of the latest claims made on the solicitors’ compensation fund, despite making up only around a third of firms at the time, research for the Solicitors Regulation Authority has found.

May 6th, 2014 | 1 Comment »