Tag Results

Solicitors should be able to practise from unregulated firms, SRA suggests

Practising solicitors should be allowed to deliver advice to the public from unregulated firms, subject to restrictions, the Solicitors Regulation Authority has suggested as part of a phased review of how it regulates both individuals and organisations.

November 27th, 2015 | No Comments »

What is a material compliance failure?

Let’s assume you already know you have to report material compliance failures to the Solicitors Regulation Authority (SRA) as soon as reasonably practicable. That begs the BIG question: what does a material compliance failure really look like. In the brave new world of outcomes-focused regulation, there’s no definition of material compliance failure and the SRA isn’t forthcoming with any real guidance or examples. Instead, you’re expected to work it out for yourself, taking into account all relevant factors.

July 25th, 2013 | 1 Comment »

Law Society warns of “significant risks” if foreign lawyers are passported into partnerships

The Solicitors Regulation Authority’s red-tape challenge could introduce “significant risks” if registered foreign lawyers are automatically allowed to become the owners and managers of smaller firms, the Law Society has warned.

February 18th, 2013 | No Comments »

SRA drops ‘group licensing’ approach for firms operating overseas

The Solicitors Regulation Authority (SRA) has abandoned plans to impose a group-wide approach to the regulation of firms which engage in activities overseas as it launched a second consultation on amending the SRA Handbook in relation to international practice.

January 3rd, 2013 | No Comments »

90% of COLPs and COFAs in place, but 1,000 firms miss 1 January deadline

Nearly 90% of firms had their compliance officers in place for the start of the new regime yesterday, with the rest either yet to have their nominations approved or, in the case of 194 firms, failed to complete the process at all.

January 2nd, 2013 | No Comments »

Hate the Handbook? Curse the code? SRA sets out ‘red tape challenge’

The Solicitors Regulation Authority will next month launch its own version of the government’s Red Tape Challenge, chairman Charles Plant announced yesterday at the official opening of the authority’s new headquarters in Birmingham.

November 16th, 2012 | 2 Comments »

File reviews – are they really necessary?

Since the introduction of the SRA Handbook, firms have been asking whether they should introduce or improve a file review system. Corinne Staves, a senior associate at Maurice Turnor Gardner LLP, considers the issues.

July 19th, 2012 | 5 Comments »

Compliance officers – lambs to the slaughter?

Anthony Townsend, chief executive of the SRA, is quoted as saying that “compliance officers cannot be sacrificial lambs. You can’t just shuffle off responsibility for compliance”. ‘You’ here means the management and it begs an obvious question: if management can’t shuffle off its responsibilities for compliance, why have compliance officers at all?

July 17th, 2012 | No Comments »

Version 4 of Handbook goes live as SRA promises no further COLP/COFA delay

The fourth edition of the SRA Handbook in less than 10 months was published yesterday. It includes the delay in the introduction of the compliance officer regime, and the SRA has guaranteed that there will be no further hold-ups.

June 22nd, 2012 | No Comments »

Third edition of SRA Handbook in seven months goes live

The third edition of the SRA Handbook in just seven months has gone live after being approved by the Legal Services Board. A fourth edition in less than a year since the Handbook went live on 6 October 2011 should be necessary in June.

April 30th, 2012 | No Comments »