Closed consultations

Consultations that have closed are listed below. When they are available, summaries and analyses of responses and policy decision announcements are included. For details, please follow the links.

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Regulation of consumer credit – the SRA’s regulatory arrangements

This consultation invites views on our proposals to regulate consumer credit activities carried on by SRA-authorised individuals and firms under Part 20 of the Financial Services and Markets Act 2000 (FSMA). In summary, following changes which took effect on 1 April 2014, FSMA prescribes that certain consumer credit activities must be regulated

  • Start — 26 June 2015
  • End — 7 August 2015
  • Status — CLOSED, analysis of responses in progress

Read: Regulation of consumer credit – the SRA’s regulatory arrangements

Regulatory reform programme

This consultation paper sets out a range of proposals aimed at reducing unnecessary burdens and costs on regulated firms, and to ensure proportionate and targeted regulation.
  • Start — 16 April 2015
  • End — 11 June 2015
  • Status — CLOSED

Read: Regulatory reform programme

Separate business rule

In part A of the consultation, we are seeking views on changes to the 'separate business rule' as currently set out in Chapter 12 of the SRA Code of Conduct 2011. Part B is about the services that a solicitors' firm can provide to the public directly through its practice, rather than through a separate entity.

  • Start — 20 November 2014
  • End — 12 February 2015
  • Status — CLOSED, Analysis of responses published

Read: Separate business rule

Proportionate regulation: reporting accountant requirements

This consultation seeks views on proposed changes to the SRA Accounts Rules 2011 ("the Accounts Rules") which form the second phase of a programme of reform. The proposals are part of the SRA's wider programme of reform, designed to ensure that regulation is proportionate and targeted, with the aim of removing unnecessary regulatory burdens, while providing appropriate levels of consumer protection.

  • Start — 18 November 2014
  • End — 28 January 2015
  • Status — CLOSED, report on responses available

Read: Proportionate regulation: reporting accountant requirements

Regulation of insolvency practice

This paper seeks views on a proposal that we should take appropriate steps to stop authorising solicitors as insolvency practitioners. This means that solicitors wishing to carry out regulated insolvency activity would need to apply to another suitable regulator for authorisation.

  • Start — 18 November 2014
  • End — 16 January 2015
  • Status — CLOSED, report on responses available

Read: Regulation of insolvency practice

Training for Tomorrow: A Competence Statement for Solicitors

In this consultation we invite views on a topic that is of critical importance to the future of the profession, clients and the administration of justice: what standards should we expect of solicitors when newly-qualified and subsequently?

  • Start — 20 October 2014
  • End — 12 January 2015
  • Status — CLOSED, report on responses available

Read: Training for Tomorrow: A Competence Statement for Solicitors

Regulation of consumer credit activities

This consultation seeks views on our proposal to withdraw from the Financial Conduct Authority's (FCA) Designated Professional Body (DPB) regime for the purposes of consumer credit activities. This means that SRA-authorised firms carrying on any regulated credit activities would need to apply to the FCA for authorisation rather than being able to rely on the Part 20 exemption set out in the Financial Services and Markets Act 2000 (FSMA).

  • Start — 13 October 2014
  • End — 15 December 2014
  • Status — CLOSED

Read: Regulation of consumer credit activities

Overseas Accounts Rules

This consultation is designed to seek views on proposed changes to the accounts rules applicable to entities and individual authorised persons 'practising overseas'. We are proposing to move the accounts rules that apply to overseas practice from the SRA Accounts Rules section of the SRA Handbook into the Overseas Rules and to simplify their application and content.

  • Start — 30 September 2014
  • End — 22 December 2014
  • Status — CLOSED

Read: Overseas Accounts Rules