News releases
SRA transforming regulation to help firms achieve the right outcomes for clients
21 January 2010
The Solicitors Regulation Authority today launched a strategy setting out plans to transform the regulation of solicitors and firms over the next two years.
The strategy paper Achieving the right outcomes sets out the SRA's intention to work with the profession to make sure SRA regulation and firm compliance is focused on the quality of outcomes for customers and the public interest.
The new approach will fundamentally change both the Solicitors' Code of Conduct 2007 and the SRA's approach to supervising and enforcing the Code and other regulations. It will:
- Give more flexibility and responsibility to firms by setting out clear outcomes, with firms deciding the best way to deliver these for their type of business
- Focus on those requirements which are genuinely needed to protect consumers and deliver high standards of service
- Concentrate SRA resources on the issues and activities that pose the greatest risks to consumers and the public interest
- Ensure there is a level playing field for all legal services providers regulated by the SRA, with no unnecessary barriers to entering the market, by applying the new approach to both traditional legal firms and Alternative Business Structures (from 2011).
Chief Executive Antony Townsend said: "This paper sets out how we plan to transform regulation to bring benefits for both consumers and firms.
"Firms will need to focus on the outcomes and how best to meet them, given the way they manage their business. This will be a big culture change for many firms, and for the SRA.
"We will be consulting with the profession and consumers to better understand the impact and provide help and support through the changes."
The SRA welcomes views on the strategy.
Notes to editors
- Consultations setting out a roadmap and more detail will follow in the spring.
- The paper includes an example of how the new Code of Conduct might look for Client Relations, which can be compared with the current Rule 2.
- A list of FAQs is available.