Reserved activities rule removed after SRA assurance that it is not looking to regulate the unregulated
Law firms no longer need to carry out reserved activities in order to be regulated by the Solicitors Regulation Authority – but the regulator has offered assurances that it will not seek to bring the currently unregulated into its net as a form of quasi-accreditation.
The Law Society has launched a sustained attack on plans by the Solicitors Regulation Authority to introduce third-party accounts, allow referral fees in legal aid cases and remove the requirement on firms to carry out reserved activities.
Only 5% of solicitors would be interested in transferring their client accounts to a third party, a survey of firms in the south east has suggested. The SRA is consulting on whether to allow the move.
Why be a solicitor? That is a question that will be asked ever more frequently in the coming years when you could become a legal executive or a licensed conveyancer and, in all likelihood, enjoy most if not all of the same rights and privileges as solicitors.
The Council for Licensed Conveyancers (CLC) is set to apply to the Legal Services Board for the power to grant rights of audience and rights to conduct litigation to licensed conveyancers. It is part of a package of measures aimed at putting the CLC in the position to apply to become an alternative business structures licensing authority.