SRA reaction to publication by the Law Society of the Smedley report
26 March 2009
Chair of the SRA Board Peter Williamson said:
"We welcome Nick Smedley's contribution to the wider debate on the future regulation of legal services.
"Although this report covers just one sector—the corporate legal sector—we are pleased it highlights the importance of robust, proactive regulation, in the interests of consumers.
"We share Nick Smedley's view that regulation needs to take account of the wide diversity of legal clients and legal firms and this forms an important element of the SRA's published strategy for implementing a new regulatory regime.
"We are pleased he recognises that stepping up the pace of our work and expanding our capabilities in the regulation of corporate legal services will require significant additional resource.
"This will be considered in the context of the broader reform of legal regulation set out in the Legal Services Board's draft business plan and the SRA's strategy.
"We will respond publicly to the detail of Nick Smedley's report within the next three months."